Time left 1:16:58 Question 21 Not yet answered Marked out of 100 Hag question What is the stock basis for Harold in the following: Harold transfers the following to a newly formed corporation: Land (basis of $50,000 and FMV of $100,000) Building (basis of $50,000 and FMV of $400,000) Accounts payable of $10,000 (for business supplies) Notes Payable 1 for building improvements of $185,000 O a Zera (original basis plus gain recognized less liabilities transferred) Ob 895,000 the gain recognized O c. 15,000 (the gain recognized less original basis) Od $100.000 (550 - 150) O (595,000) ($100,000 basis less $105,000 gain) Previous page