Multiple Choice
Sarah transfers property with an $80,000 adjusted basis and a $100,000 FMV to Super Corporation in a Sec. 351 transaction. Sarah receives stock with an $85,000 FMV and a short-term note with a $15,000 FMV. Sarah's basis in the stock is
A) $100,000.
B) $95,000.
C) $85,000.
D) $80,000.
Correct Answer:
Verified
Correct Answer:
Verified
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