10- Roberta transfers property with a tax basis of $460 and a...
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Accounting
10-
Roberta transfers property with a tax basis of $460 and a fair market value of $501 to a corporation in exchange for stock with a fair market value of $394 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $107 on the property transferred. What is the amount realized by Roberta in the exchange?
Multiple Choice
$460
$394
$501
$251
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