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Determine the basis of stock in the hands of the shareholder in each of the following instances. Assume that the 80% rule is met in
Determine the basis of stock in the hands of the shareholder in each of the following instances. Assume that the 80% rule is met in all cases. a. Contribution of property with a basis of $2,000 and an FMV of $2,800. b. Contribution of property with a basis of $6,000 and an FMV of $7,600. The stockholder also received $1,000 cash from the corporation as part of the stock transaction. c. Contribution of property with a basis of $16,400 and an FMV of $25,000. The stockholder also received property with an FMV of $3,400 from the corporation as part of the stock transaction. d. Contribution of a building with an FMV of $400,000, a mortgage (assumed
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