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Ronald, a cash basis taxpayer incorporates his sole proprietorship He transfers the following items to newly created Robin Corporation. There was a bona-fide business purpose

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Ronald, a cash basis taxpayer incorporates his sole proprietorship He transfers the following items to newly created Robin Corporation. There was a bona-fide business purpose for the mortgage (i.e. "exception 1" does not apply) What is Robin Corporation's basis in the building? Robin's basis in building = $ ________

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