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What are the tax consequences of the contribution to Marsha

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Reference no: EM132896720

Question - Marsha is going to contribute the following assets to a business entity in exchange for an ownership interest.

 

Adjusted Basis

FMV

Cash

$100,000

$100,000

Land and building

60,000

95,000

What are the tax consequences of the contribution to Marsha if the business entity is a(n): a. Sole proprietorship? b. General partnership? c. Limited partnership? d. C corporation? e. S corporation?

Reference no: EM132896720

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