Eileen Transfers Property Worth $200,000 (Basis of $60,000)to Goldfinch Corporation

Eileen transfers property worth $200,000 (basis of $60,000)to Goldfinch Corporation.In return,she receives 80% of the stock in Goldfinch Corporation (fair market value of $180,000)and a long-term note,executed by Goldfinch and made payable to Eileen (fair market value of $20,000).Eileen recognizes no gain on the transfer.