C Corp Basis

  • Creator
    Topic
  • October 5, 2015 at 12:31 pm #197360
    jpabla89
    Member

    Hey guys,

    Can someone please tell me what both the Shareholder, and Corporation basis would be in the following scenario, and why:

    Shareholder contributes: $10,000 in cash, property worth $40,000 ($5,000 basis), with a related liability of $20,000.

    Becker doesn’t dig deep on C Corp basis so I’m getting thrown off with this one. Any help would greatly be appreciated.

    Thank you!

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