[jiaxuanclaire]

I am still not clear on when you have liability involved with control<80%.

Lets assume a shareholder transfer a property with FMV=900, Basis=600, liability=100. After transfer he control 70%

So the gain for S after he transferred the property is 900-(600-100)=400, and the new basis=600+400=1000

And the C corp’s basis in the property is 600+400=1000?

I am so confused.

BEC: (07/13) 79-->done
AUD: (08/13) 62, (03/14) 68, (11/14)--?
REG: (05/14) 74, (07/14) 72, (10/14) 79-->done
FAR: (08/14) 80-->done