1:Taxpayer puts in $2,000,000 of assets (FMV) into a corporation in exchange for another asset. His basis is 300,000. If this transaction is taxable what is the:

Realized gain/ loss:

Recognized gain/ loss:

Basis in new asset:

2: Taxpayer puts in $2,000,000 of assets (FMV) into a corporation in exchange for another asset. His basis is $2,000,000. If this transaction is deferred under like kind what is the:

Realized gain/ loss:

Recognized gain/ loss:

Basis in new asset:

3: Taxpayer puts in $2,000,000 of assets (FMV) into a corporation in exchange for another asset. His basis is $600,000. He also gets $700,000 in cash (plus the stock) If this transaction is deferred what is the:

Realized gain/ loss:

Recognized gain/ loss:

Basis in new asset to the shareholder: