Friday
April 25, 2014

Homework Help: tax

Posted by Andy on Thursday, May 10, 2012 at 4:03pm.

Andre formed a corporation and owns all of the stock. He contributed property with a FMV of $10,000 and a basis of $7,000 and he received $1,000 cash from the corporation. Andre's taxable gain is:
$0
$1,000
$3,000
$10,000



is it 3000

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Healthcare Finance - 2 A firm that owns the stock of another corporation does ...
Healthcare Finance - 2 A firm that owns the stock of another corporation does ...
Healthcare Finance - A firm that owns the stock of another corporation does not ...
Corporate Tax - Alan just immigrated to Canada and owns STARS ltd (US company). ...
Accounting Tax - A taxable corporation faces a flat 35% marginal tax rate. What ...
Tax consequence - Corporation is a calendar-year taxpayer. All of the stock is ...
English - In our country, there is a famous fashion designer, who is called ...
Corporate tax - 11. Molly, Inc. a domestic corporation, owns 15% of PJ. Inc. and...
finance 2 questions - 9. When Patricia sells her General Motors common stock at ...
government(taxes) - I am looking for a list of California state taxes. So far ...

Search
Members