Erica transfers land worth $500,000, basis of $100,000, to a newly formed corporation, Robin Corporation, for...

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Erica transfers land worth $500,000, basis of $100,000, to a newly formed corporation, Robin Corporation, for all of Robins

business accounting

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Answer 1

Answer #1

Robin corporation has a basis of $100000 in the land.

Because Erica put 100000 of land in company.

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Answer 2

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Erica transfers land worth $500,000, basis of $100,000, to a newly formed corporation, Robin Corporation, for...

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Erica transfers land worth $500,000, basis of $100,000, to a newly formed corporation, Robin Corporation, for...

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Kevin transfers land worth $500,000, basis of $100,000, to a newly formed corporation, Robin Corporation, for...

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Erica transfers land worth $500,000, basis of $100,000, to a newly formed corporation, Robin Corporation, for...

Homework Answers

Add Answer to: Erica transfers land worth $500,000, basis of $100,000, to a newly formed corporation, Robin Corporation, for...

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Erica transfers land worth $500,000, basis of $100,000, to a newly formed corporation, Robin Corporation, for...