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Glenda Goodwich contributes property with a basis of $20,000 and a fair market value of $100,000 to form WOZ Corporation in exchange for 100 shares of WOZ common stock with a fair market value of $80,000 and $20,000 cash. This contribution will result in ___________

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tanseershar

Answer:

The answer is given below;

Explanation:

The contribution will neither result in gain nor loss.

The fair market value of property is $100,000 and ownership of Glenda Goodwich in form of stocks and cash is also $100,000.

Therefore no gain no loss will be recognized.

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