Target Corporation has assets with a FMV of $24,000,000 and a tax basis of $16,000,000. Target has one shareholder named Keri and Keri's basis in his Target stock is $12 Million. Acquiring Corporation will acquire the stock of Target Corporation for $23 Million cash.

Target Realized Gain or Loss

Target Recognized Gain or Loss

Tony Realized Gain or Loss

Tony Recognized Gain or Loss

Acquiring Corporation Basis in Target Assets

Tony Basis in Acquiring Stock

Where do Target tax attributes go?