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Annabelle converted her sole proprietorship to an S corporation and transferred several assets to the corporation. The assets cost $17,000 and had an adjusted basis
Annabelle converted her sole proprietorship to an S corporation and transferred several assets to the corporation. The assets cost $17,000 and had an adjusted basis of $8,300. She also spent an additional $900 to make the conversion to an S corporation. What is her beginning basis in the S corporation?..
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