Julie transferred a personal-use computer to her sole proprietorship. The computer originally cost her $3,000. At the

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Julie transferred a personal-use computer to her sole proprietorship. The computer originally cost her $3,000. At the date of transfer, the computer had a fair market value of $1,000. Explain how both Julie and the sole proprietorship will treat this for tax purposes.
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Taxation For Decision Makers 2014

ISBN: 9781118654545

6th Edition

Authors: Shirley Dennis Escoffier, Karen Fortin

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