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1 Required information [ The following information applies to the questions displayed below. ] Zhang incorporated her sole proprietorship by transferring inventory, a building, and
Required information
The following information applies to the questions displayed below.
Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted tax bases:
tableFMVtableAdjusted TaxBasisInventory$$
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