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Nick exchanges property (basis of $100,000, fair market value of $3,000,000 ) for 65% of the stock of Yellow Corporatien. The ofher 35% of the

Nick exchanges property (basis of $100,000, fair market value of $3,000,000 ) for 65% of the stock of Yellow Corporatien. The ofher 35% of the stiock is owsed by Gloria who acquired if several years ago. What are the ux coniequences to Nick? For the toolbar, press ALT+FIO (PQ) or ALT+FN+FIO (Mac)

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