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- The mortgage is attached to the building and land. Ernesto was asking for $297,000 for the company. His tax basis in the BLI stock
- The mortgage is attached to the building and land. Ernesto was asking for $297,000 for the company. His tax basis in the BLI stock was $80,000. Included in the sales price was an unrecognized customer list valued at $80,000. The unallocated portion of the purchase price ($64,000) will be recorded as goodwill. Assume Ernesto agrees to sell his stock in BLI to Amy and Brian for $297,000. roblem 19-58 Part a (Algo) What amount of gain or loss does BLI recognize if the transaction is structured as a stock sale to Amy and Brian? What amount of corporate-level tax does BLI pay as a result of the transaction
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