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What would be the possible tax ramifications for the sale of the following capital assets for a corporation? What about donating to a non-profit? Or
What would be the possible tax ramifications for the sale of the following capital assets for a corporation? What about donating to a non-profit? Or a combination.
| Capital Asset | Type | Initial Costs | Adjusted Basis | Estimated FMV |
| 1190 | Bond | $ 5,000.00 | $ 5,000.00 | $ 10,000.00 |
| 1119 | Building | $ 150,000.00 | $ 50,000.00 | $ 30,000.00 |
| 3001 | Building | $ 60,000.00 | $ 5,000.00 | $ 50,000.00 |
| 1101 | Property | $ 50,000.00 | $ - | $ 15,000.00 |
| 1107 | Property | $ 50,000.00 | $ 5,000.00 | $ 30,000.00 |
| 2001 | Property | $ 15,000.00 | $ 2,000.00 | $ 15,000.00 |
| 2002 | Property | $ 5,000.00 | $ - | $ 5,000.00 |
| 3002 | Property | $ 60,000.00 | $ 50,000.00 | $ 35,000.00 |
| 1129 | Stock | $ 20,000.00 | $ 20,000.00 | $ 25,000.00 |
| 1130 | Stock | $ 25,000.00 | $ 25,000.00 | $ 10,000.00 |
| 2198 | Stock | $ 5,000.00 | $ 5,000.00 | $ 50,000.00 |
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Authors: James Bone
1st Edition
0367567962, 978-0367567965
