Академический Документы
Профессиональный Документы
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Entity
Formation Basis of Property transferred Basis of Property contributed
Plus: FMV of Services rendered Plus: FMV of Services rendered
Minus: Liability Assumed by Corporation Minus: Liability Assumed by Partnership
Initial
Basis: Plus: Gain Recognized by S/H Plus: Gain Recognized, b/c of Investment Co. rules
1. Boot recv'd:
S/H & Partner a. Gain = Lesser of: Plus: Share of Partnership Liabilities assumed
b. Realized Gain or Boot recv'd
Note:
1. S/H Debt assumed by Corp, only affects Basis
when Debit Relief, Exceeds, Basis of Property
transferred, b/c it triggers recognition of
Gain.