Required information

Problem $19-37($LO $19-2)($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Ramon incorporated his sole proprietorship by transferring inventory, a building, and land to the corporation in return for $100$ percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted tax bases:

$\backslash$table$[[,,$Adjusted Tax$],[,$FMV$,$Basis$]]$

The fair market value of the corporation's stock received in the exchange equaled the fair market value of the assets transferred to the corporation by Ramon.

Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign.

Problem $19-37$ Part a $($Algo$)$

a$.$ What amount of gain or loss does Ramon realize on the transfer of the property to his corporation?