Target Corporation holds assets with a fair market value of $4,000,000 (adjusted basis of $2,200,000) and liabilities of $1,500,000. It transfers assets worth $3,700,000 to Acquiring Corporation in a "Type C" reorganization, in exchange for Acquiring voting stock and the assumption of $1,400,000 of Target's liabilities.

Target retained a building worth $300,000 (adjusted basis of $225,000). Target distributes the Acquiring voting stock and the building with its $100,000 mortgage to Wei, its sole shareholder, for all of her stock in Target. Wei's basis in her stock is $2,100,000.

What is the amount of gain(loss) recognized by Wei, Target, and Acquiring in this reorganization?

Wei has a realized gain of $__________, of which $__________ is recognized.

Target has a realized gain of $__________, of which $__________ is recognized.

Acquiring has no gain or loss of $_________, of which $__________ is recognized

What is Weis basis in the stock and building she received?

Weis basis in the stock is $_________. Wei's basis in the building is $__________ and has a $__________ liability she acquired