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Alica and Jane for Osprey Corp. Alice transfers property FMV $200,000 AB $25,000 for 50 shares. Jane transfers property FMV $165,000 AB $50,000 and services
Alica and Jane for Osprey Corp. Alice transfers property FMV $200,000 AB $25,000 for 50 shares. Jane transfers property FMV $165,000 AB $50,000 and services as a manager of Ospery for one year (this is not an organizational cost so Osprey can deduct). The Services hava FMV $35,000. Jane receives 50 shares for property and services. a. What gain doe Alice and Jane recognize on the exchange? b. What is Ospery Corp.'s AB in property transferred by Alice and Jane? How does Osprey treate the value of services that Jane renders
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