tax problem

On January 10 of the current year, Vicky transfers to Carlotta Corporation a machine purchased three years ago for $95,000. On the transfer date, the machine has a $62,000 adjusted basis and a $112,000 EMV Vicky receives all 225 shares of Carlotta stock, worth $92,000, and a two-year Carlotta note worth $20,000. Read the requirements gain Requirement a What are the amount and character of Vicky's recognized gain or loss? Vicky realizes a gain and recognizes an) This is treated as capital gain Requirement b. What is Vicky's basis in the stock and noto? When does her holding period begin? Vicky's basis in the Carlotta stock is and her holding period for the stock is doomed to begin when she Determine the basis in the two-year note and when the holding period would begin. Vicky's basis in the two-year note in and her holding period for the note begins on Requirement c. What are the amount and character of Carlotta's gain or loss? Carlotta Corporation recognizes Requirement d. What is Carlotta's basis in the machino? When does Carlotta's holding period bogin? Carlotta's basis in the machine is and Carlotta's holding period is deemed to begin when Next