Ivan incorporated his 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 bases Adjusted FMV Basis Inventory 16,500 26,250 56,750 51,000 $139,250 $134,000 Building Land 60,000 62,750 Total The fair market value of the corporation's stock received in the exchange equaled the fair market value of the assets transferred to the corporation by Ivan. The transaction met the requirements to be tax-deferred under $351. (Negative amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) Problem 19-38 Part a a. What amount of gain or loss does lvan realize on the transfer of the property to his corporation? Gain or loss realized