Determine The Basis Of Stock In The Hands Of The Shareholder In Each Of The Foll

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Determine the basis of stock in the hands of the shareholder in each of the following instances. Assume that the 80% rule is met in all cases.

  1. Contribution of property with a basis of $1,500 and an FMV of $1,900.
  2. Contribution of property with a basis of $4,000 and an FMV of $5,400. The stockholder also received $1,000 cash from the corporation as part of the stock transaction.
  3. Contribution of property with a basis of $8,700 and an FMV of $13,500. The stockholder also received property with an FMV of $2,200 from the corporation as part of the stock transaction.
  4. Contribution of a building with an FMV of $225,000, a mortgage (assumed by the corporation) of $125,000, and a basis of $175,000.
  5. Contribution of a building with an FMV of $1,750,000, a mortgage (assumed by the corporation) of $1,050,000, and a basis of $660,000.