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Maran incorporated her sole proprietorship by transferring inventory, a building. and land to the corporation in return for 100 percent of the corporation's stock. The
Maran incorporated her sole proprietorship by transferring inventory, a building. and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and tax-adjusted bases. The corporation also assumed a mortgage of $50.000 attached to the building and land. The transaction met the requirements to be tax-deferred under 351. Blank \#1: What is Maran's recognized gain or loss? Blank H2: What is Maran's basis in her stock? Elank *3; What is the corporation's basis in the bullding? Blank N4: What is the corporation's basis in the land? Entee your answer without doltar signs or commas. Use parentheses to indicate negative valuee Rhund to the nearest dollar if necesary
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