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In 2021, Rob Short incorporated his trucking delivery business. Rob's only asset that was transferred to the corporation was a truck with an adjusted tax

In 2021, Rob Short incorporated his trucking delivery business. Rob's only asset that was transferred to the corporation was a truck with an adjusted tax basis of $20,000, and a fair market value of $40,000. Immediately after the transfer, Rob owned 100% of the corporations stock. What is the gain on Rob's transfer of the truck to the corporation in exchange for stock?

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