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Shareholder D transfer a building to K Corporation that has a basis of $50,000 and...

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Accounting

Shareholder D transfer a building to K Corporation that has a basis of $50,000 and fair market value of $150,000 in exchange for stock with a fair market value of $60,000, cash of $30,000 and other property worth $60,000. Using this information, answer the following questions:

What is Ds basis in other property received?

a. $50,000 b. $90,000 c. $80,000 d. $60,000

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