Question
Pamela contributes property worth $50,000 (adjusted basis = $20,000) to KM Inc. Pamela is already the sole shareholder of KM and receives nothing in return
Pamela contributes property worth $50,000 (adjusted basis = $20,000) to KM Inc. Pamela is already the sole shareholder of KM and receives nothing in return for her transfer. What is KM's basis in the property?
| a. | $50,000 | |
| b. | $20,000 | |
| c. | $0 | |
| d. | $30,000 |
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The ASQ Certified Food Safety And Quality Auditor
Authors: Steven Wilson
4th Edition
1951058186, 978-1951058180
