A C corporation has fiscal year-end of November 30. It does not request an extension of time to file its income tax return. It must file its return no later than the 15th day of: January. February. March. April. Andre formed a corporation and owns all of the stock. He contributed property with a FMV of $10,000 and a basis of $7,000 and he received $1,000 cash from the corporation. Andre's taxable gain is: $0. $1000. $3000. $10,000. Heather and Howie form HH Company. In exchange for 50% of the stock. Heather contributes cash of $7,000. For the remaining 50%, Howie contributes a truck with a FMV of $7,000 (basis of $10,000). Which of the following statements is correct? Howie will report a loss of $3,000. The basis of the truck to HH Company is $7,000. Howie will have a basis in his stock of $10,000. All the statements are correct