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You said in the beginning that for shareholders basis you subtract the gain since it will lower the basis but at the 11:31 mark you stated you add the gain? I’m confused please help lol. Cpa exam in 3 weeks.
Since Mary is only purchasing 20% in these examples, wouldn't the gain/loss and basis be calculated using the FMV of the property (since the 80% rule was not satisfied)?
Is the Corporation basis always just Greater of NBV/AB or Liability assumed no matter what? Example ending at 15:33 threw me off. I understood everything you said, but you stopped short with Marys basis and didnt do the Corp side. I assume its still the same.
Simply❤...Thanks a lot.. video was much helpful
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Very good video!
Thank you very much!
You said in the beginning that for shareholders basis you subtract the gain since it will lower the basis but at the 11:31 mark you stated you add the gain? I’m confused please help lol. Cpa exam in 3 weeks.
This was extremely helpful conceptually for me. Thanks for sharing! I’m to check out more of the resources you created on your site.
You’re welcome! Definitely do that. Our whole study platform uses a visual approach with explanation videos for every MCQ.
Thank you! Glad the videos were helpful!
Since Mary is only purchasing 20% in these examples, wouldn't the gain/loss and basis be calculated using the FMV of the property (since the 80% rule was not satisfied)?
Is the Corporation basis always just Greater of NBV/AB or Liability assumed no matter what? Example ending at 15:33 threw me off. I understood everything you said, but you stopped short with Marys basis and didnt do the Corp side. I assume its still the same.