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Jack transfers equipment with FMV: $500,000;AB:$100,000 in exchange for 50% of the common stock of UTH. Jill transfers management services w/ FMV of $100,000 and
Jack transfers equipment with FMV: $500,000;AB:$100,000 in exchange for 50% of the common stock of UTH. Jill transfers management services w/ FMV of $100,000 and equipment with FMV: $300,000; AB : $150,000; loan on the equipment of $100,000 that will be assumed by UTH; and cash of $100,000 in exchange for 50% of the common stock of UTH. $5,000 of the loan was used to pay Jill's personal credit cards before she transferred the equipment to UTH. A. s this a good 351 ? B. How does Jack report this transaction? C. What is Jack's basis in his UTH stock? D. How does Jill report this transaction? E. What is Jill's basis in her UTH stock? F. What is UTH's basis in Jack's equipment? G. What is UTH's basis in Jill's equipment
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