Marsha transfers her personal use automobile to her business (a sole proprietorship). The car's adjusted basis is
$30,000 and the fair market value is $16,000. No cost recovery had been deducted by Marsha, since she held the car for personal use. Determine the adjusted basis of the car to Marsha's sole proprietorship including the basis for cost recovery.

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The Answer of Marsha transfers her personal use automobile to her business (a sole proprietorship). The car's adjusted basis is
$30,000 and the fair market value is $16,000. No cost recovery had been deducted by Marsha, since she held the car for personal use. Determine the adjusted basis of the car to Marsha's sole proprietorship including the basis for cost recovery.

Marsha Transfers Her Personal Use Automobile to Her Business (A