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Carla incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 1 0 0 percent of the corporation's

Carla incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted tax bases:
\table[[,Adjusted Tax],[,FMV,Basis],[Inventory,$20,000,$10,000
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