Transfer of business properties is the problem to solveAC332

f. When do Barbara and Sam's holding periods for their stock begin? g. How would your answers to Parts a through f change if Sam received $17,000 Moore stock for legal services (instead of cash)? Transfer of Business Properties. Jerry transfers to Emerald Corporation property havin $32,000 adjusted basis and a $50,000 FMV in exchange for all of Emerald's stock wo $15,000 and Emerald's assumption of a $35,000 mortgage on the property. a. What is the amount of Jerry's recognized gain or loss? b. What is Jerry's basis in the Emerald stock? c. What is Emerald's basis in the property? d. How would your answers to Parts a through c change if the mortgage assumed Emerald were $15,000 and the Emerald stock were worth $35,000? Incorporating a Cash Basis Proprietorship. Ted decides to incorporate his medical pr tice. He uses the cash method of accounting. On the date of incorporation, the pract reports the following balance sheet: Basis FMV