Question 25

19-25 Corporate Formation. Individuals J and R form the JR Corporation. J transfers lia with a basis of $50,000 and a fair market value of $100,000. R transfers al u preciable property from his former business, which has a basis of $80,000 an d a fair s cash of market value of $70,000. In order to be an equal shareholder, R alotanterock $30,000 to the corporation. J and R each receive 100 shares of JR Corporation a. What is J's realized gain or loss? Recognized gain or loss b. What is R's realized gain or loss? Recognized gain or loss c. What basis will J have in the JR Corporation stock? d. What basis will JR Corporation have in the land? e. What basis will R have in the JR Corporation stock? r. What basis will JR Corporation have in the depreciable prope nsfers 19-26 Corporate Formation. Individual Y vrzennaration. X trans hi y and