Daniel Kwok transfers his business assets to a corporation and elects a value of $678,000 for the assets transferred. These assets have a fair market value of $1,250,000. Daniel receives the following consideration: How will the elected value be allocated between: the non-share consideration, the preferred shares issued, and the common stock issued?

Question

Daniel Kwok transfers his business assets to a corporation and elects a value of $678,000 for the assets transferred. These assets have a fair market value of $1,250,000. Daniel receives the following consideration:  How will the elected value be allocated between: the non-share consideration, the preferred shares issued, and the common stock issued?

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The Answer of Daniel Kwok transfers his business assets to a corporation and elects a value of $678,000 for the assets transferred. These assets have a fair market value of $1,250,000. Daniel receives the following consideration:  How will the elected value be allocated between: the non-share consideration, the preferred shares issued, and the common stock issued?

Daniel Kwok Transfers His Business Assets to a Corporation and Elects