[Troutman85]

Hey gang,

I’ve got reg, my last exam, next week. I’m doing well but I’m a little confused on corporate realized gain . Corporation basis appears to be identical to like kind exchanges = Adjusted basis of property transferred + Gain recognized – Boot received + Cash paid. Please correct me if I’m wrong. I’m under the assumption that Realized gain for corporations is FMV of property transferred – basis. However, an example has realized gain as cash received + stock received – basis of property transferred. Any thoughts would be appreciated.