Camille transfers property with a tax basis of $820 and a fair market value of...
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Accounting
Camille transfers property with a tax basis of $820 and a fair market value of $1,345 to a corporation in exchange for stock with a fair market value of $1,290 and $55 in cash in a transaction that qualifies for deferral under section 351. Camille also incurred selling expenses of $159. What is the amount realized by Camille in the exchange?
$1,131.
$1,345.
$1,290.
$1,186.
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