Zhang incorporated her sole proprietorship by transferring inventory, a building. and land to the corporation in return for 100 percent of the corporaton's stock. The property transferred to the corporation had the following falr market values and adjusted tax bases: The corporation also assumed a mortgage of $100,000 attached to the bullding and land. The falr market value of the corporation's stock recelved in the exchange was $460.000. The transaction met the requirements to be tax-deferred under $351. Note: Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Required: a. What amount of gain or loss does Zhang realize on the transfer af the property to the corporation? b. What amount of gain or loss does Zhang recognize on the transfer of the property to the corporation? C. What is Zhang's tax basis in the stock recelved in the exchange? d. What is the corporation's adjusted tax basis in each of the assets recelved in the exchange? e. Assume the corporation assumed a mortgage of $660.000 attached to the bullding and land. Assume the fair market value of the buliding is now $350,000 and the falr market value of the land is $742,000. The fair market value of the stock remains $460,000. How much, if any, gain or loss does Zhang recognize on the exchange assuming the revised facts? f. Assume the corporation assumed a mortgage of $660.000 attached to the bullding and land. Assume the fair market value of the buliding is now $350,000 and the fair market value of the land is $742,000. The falr market value of the stock remains $460.000. What is Zhang's tax basls in the stock recelved in the exchange? 9. Assume the corporation assumed a mortgage of $660,000 artached to the bullaing and land. Assume the fair market value of the bullding is now $350.000 and the fair market value of the land is $742000. The fair market value of the stock remains $460.000. What is the corporation's adjusted tax basic in each of the assets recelved in the exchange? Note: Do not round intermediate calculattons. Complete this question by entering your answers in the tabs below. What amount of gain or loss does zhang realize on the transfer of the property to the corporation? Complete this question by entering your answers in the tabs below. What amount of gain or loss does Zhang recognize on the transfer of the property to the corporation? Complete this question by entering your answers in the tabs below. What is Zhang's tax basis in the stock received in the exchange? Complete this question by entering your answers in the tabs below. What is the corporation's adjusted tax basis in each of the assets received in the exchange? Complete this question by entering your answers in the tabs below. Assume the corporation assumed a mortgage of $660,000 attached to the building and land. Assume the fair market value of the bullding is now $350,000 and the fair market value of the land is $742,000. The fair market value of the stock remains $460,000. How much, if any, gain or loss does Zhang recognize on the exchange assuming the revised facts? Complete this question by entering your answers in the tabs below. Assume the corporation assumed a mortgage of $660,000 attached to the building and land. Assume the fair market value of the building is now $350,000 and the fair market value of the land is $742,000. The fair market value of the stock remains $460,000 What is Zhang's tax basis in the stock recelved in the exchange? Complete this question by entering your answers in the tabs below. Assume the corporation assumed a mortgage of $660,000 attached to the building and land. Assume the fair market value of the building is now $350,000 and the fair market value of the land is $742,000. The fair market value of the stock remains $460,000 What is the corporation's adjusted tax basis in each of the assets received in the exchange? Note: Do not round intermediate calculations
