Nebula Corporation distributes property worth $100,000, basis of $50,000, to a shareholder in a distribution that is a qualifying stock redemption.The property is subject to a liability of $90,000, which the shareholder assumes.The basis of the property to the shareholder is:

Question

Quizplus · Accepted Answer

The Answer of Nebula Corporation distributes property worth $100,000, basis of $50,000, to a shareholder in a distribution that is a qualifying stock redemption.The property is subject to a liability of $90,000, which the shareholder assumes.The basis of the property to the shareholder is:

Nebula Corporation Distributes Property Worth $100,000, Basis of $50,000, to a Shareholder