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Camille transfers property with a tax basis of $1,050 and a fair market value of $1,475 to a corporation in exchange for stock with a
Camille transfers property with a tax basis of $1,050 and a fair market value of $1,475 to a corporation in exchange for stock with a fair market value of $1,140 and $335 in a transaction that qualifies for deferral under section 351. Camille also incurred selling expenses of $106. What is the amount realized by Camille in the exchange?
$1,034
$1,140
$1,475
$1,369
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