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Julie Is Going to Contribute the Following Assets to a Business

Question 135

Essay

Julie is going to contribute the following assets to a business entity in exchange for an ownership interest.
Julie is going to contribute the following assets to a business entity in exchange for an ownership interest.     What are the tax consequences of the contribution to Julie if the business entity is a(n):  a.Sole proprietorship? b.Partnership? c.C corporation? d.S corporation?
What are the tax consequences of the contribution to Julie if the business entity is a(n):
a.Sole proprietorship?
b.Partnership?
c.C corporation?
d.S corporation?

Correct Answer:

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a.Since the business entity is a sole pr...

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