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Taxpayer A Transfers Land - Adj Basis $20,000 -FMV $100,000 In Exchange for: 100% of New Corp Stock (NC) Plus - $20,000 Cash - $20,000 Other Property A. 1. (a) What is the Total Amount Realized by A$ (b) What is the Gain Realized by A$ (c) What is the Gain Recognized by A$ (d) What is the Code Section (a) above (e) What is the Code Section (b) above (f) What is the Code Section (c) above 2. (a) What is the amount of income recognized by A if any? $ (b) What is the Code Section for 2(a) 3. What is the Basis in A's New Corp Stock received \$ 4. What is the New Corp's basis in the Land $ 5. (a) What is the Code Section for \#3 (b) What is the Code Section for \#4 6. (a) What is A's realized loss if the adjusted basis in the land was $120,000 ? (b) Does A recognize any Income or Loss? (Yes or No) (c) Code Section to b above