a. What amount of gain or loss does Zhang realize on the transfer of the property to her corporation?

b. What amount of gain or loss does Zhang recognize on the transfer of the property to her corporation?

c. What is Zhangs tax basis in the stock she receives in the exchange?

d. What is the corporations adjusted tax basis in each of the assets received in the exchange?

Assume the corporation assumed a mortgage of $2,100,000 attached to the building and land. Assume the fair market value of the building is now $1,250,000 and the fair market value of the land is $2,650,000. The fair market value of the stock remains $1,900,000. e. How much, if any, gain or loss does Zhang recognize on the exchange assuming the revised facts?

f. What is Zhangs tax basis in the stock she receives in the exchange?

g. What is the corporations adjusted tax basis in each of the assets received in the exchange?

Required information (The following information applies to the questions displayed below.) Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted tax bases: Inventory Building FMV $ 100,000 750,000 1,150,000 $ 2,000,000 Adjusted Tax Basis $ 50,000 500,000 1,500,000 $ 2,050,000 Land Total The corporation also assumed a mortgage of $100,000 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $1,900,000. The transaction met the requirements to be tax-deferred under $351. (Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.)