Problem:
Feld, the sole stockholder of Maki Corp., paid $50,000 for Maki's stock in Year 1. In Year 2, Feld contributed a parcel of land to Maki but was not given any additional stock for this contribution. Feld's basis for the land was $10,000, and its fair market value was $18,000 on the date of the transfer of title.
Required:
Question: What is Feld's adjusted basis for the Maki stock?
A. $50,000
B. $52,000
C. $60,000
D. $68,000
Note: Explain all calculation and formulas.