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#2
11-28-2006, 05:22 AM
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 Re: Please help... regarding tax problems richard.nacianceno[at]gmail.com wrote: - quote - > Let say Ralph transfers property with an adjusted basis of
Sounds like a homework problem to me. > $65,000 and a FMV of $70,000 to lake corporation in a Sec. > 351 transaction. Ralph receives the stock worth $60,000 and > a short-term note having a $10,000 FMV. Ralph's basis in > the stock is what?  Moderator: I knew the answer! Is Tax homework getting that easy? << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#1
11-28-2006, 05:22 AM
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| Re: Please help... regarding tax problems richard.nacianceno[at]gmail.com wrote: - quote - > Let say Ralph transfers property with an adjusted basis of
$65,000, plus $10,000 (approximately) of taxable income.> $65,000 and a FMV of $70,000 to lake corporation in a Sec. > 351 transaction. Ralph receives the stock worth $60,000 and > a short-term note having a $10,000 FMV. Ralph's basis in > the stock is what? Stu << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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11-28-2006, 05:03 AM
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| Re: Please help... regarding tax problems richard.nacianceno[at]gmail.com wrote: - quote - > Let say Ralph transfers property with an adjusted basis of
Maybe Ralph should do his own homework.> $65,000 and a FMV of $70,000 to lake corporation in a Sec. > 351 transaction. Ralph receives the stock worth $60,000 and > a short-term note having a $10,000 FMV. Ralph's basis in > the stock is what? << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#-1
11-27-2006, 12:08 PM
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| Please help... regarding tax problems Let say Ralph transfers property with an adjusted basis of $65,000 and a FMV of $70,000 to lake corporation in a Sec. 351 transaction. Ralph receives the stock worth $60,000 and a short-term note having a $10,000 FMV. Ralph's basis in the stock is what? << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| problems, tax |
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