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Svetlana forms a corporation in which she is the sole shareholder. She contributes a vehicle with a basis of $15,000 and an FMV of $8,000
Svetlana forms a corporation in which she is the sole shareholder. She contributes a vehicle with a basis of $15,000 and an FMV of $8,000 in exchange for stock. She also contributes cash of $2,000. Svetlana will recognize: Multiple Choice a $5,000 loss. a $7,000 loss. neither a gain nor loss. a $10,000 loss
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