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Question 46 2 pts Iquestion 3 of 8) On November 1, 2019. Andrea, Dorian, Erin, and Femand form Camphor Inc. as follows: Shareholder Contribution to
Question 46 2 pts Iquestion 3 of 8) On November 1, 2019. Andrea, Dorian, Erin, and Femand form Camphor Inc. as follows: Shareholder Contribution to Corporation FMV Basis to Shareholder #Shares Other Property Received (by Stock Rec'd (by shareholder) shareholder) Land $30,000 $12,000 Andrea Building $70,000 $38,000 4002 (debt relief-see footnote 1) Mortgage (see footnote 1) (see footnote 1) Dorian Equipment $40,000 $25,000 300 $10,000 cash Erin Truck $10,000 $15,000 SO $5,000 cash Fernand Accounting Services $10,000 SO 100 None 1 The mortgage is $60,000 and was obtained to purchase the land and the building. 2 Hint: the FMV of the stock is $100 per share. : What is Andrea's basis in the stock received? 4 $10,000 50 ($10.000) S40.000
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