[HereGoesNothing]

Hello, my exam is tomorrow and I’m looking over basis calcualtion for a shareholder in a C corporation. I am not sure what the basis would be in these situation:

Example 1:

AB Property – 40,000

Liability on Property – 50,000

Cash received – 10,000

Example 2:

AB Property – 35,000

FMV Property – 100,000

Cash received – 40,000

Common Stock Received – 60,000

Can you pleas help me compute the basis?

Thanks for the help guys! I can’t wait until tomorrow! Good luck to everyone testing in this window!!!

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