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In May 2018, George began searching for a trade or business to acquire. In anticipation of finding a suitable acquisition, George hired an investment banker
In May 2018, George began searching for a trade or business to acquire. In anticipation of finding a suitable acquisition, George hired an investment banker to evaluate three potential businesses. He also hired a law firm to begin drafting regulatory approval documents for a target company. Eventually, George decided to purchase all of the assets of Brash Corporation. Brash and George entered into an acquisition agreement on December 1, 2018. Identify the relevant tax issues for George.
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