A. What is the gain/loss realized for each independent scenario? B. What, if any, is the boot received for each independent scenario? C. What is the gain/loss recognized? D. What is the Corporations Basis in the Property Received? E. What is the basis in the stock? Property transferred has: Fair market value = $200,000 Basis - $150,000 Realized Gain $ 50,000 Liabilities assumed by the corporation (independent facts): Business Purpose 1 Business Purpose 2 No Business Purpose Liability: $130,000 $170,000 $170,000 FMV of Stock Received: $120,000 $ 80,000 $ 80,000 A. What is the gain/loss realized for each independent scenario? B. What, if any, is the boot received for each independent scenario? C. What is the gain/loss recognized? D. What is the Corporations Basis in the Property Received? E. What is the basis in the stock? Property transferred has: Fair market value = $200,000 Basis - $150,000 Realized Gain $ 50,000 Liabilities assumed by the corporation (independent facts): Business Purpose 1 Business Purpose 2 No Business Purpose Liability: $130,000 $170,000 $170,000 FMV of Stock Received: $120,000 $ 80,000 $ 80,000