Question: Dino contributes a personal use asset, adjusted basis $ 1 5 , 0 0 0 and fair market value $ 2 8 , 0 0

Dino contributes a personal use asset, adjusted basis $15,000 and fair market value $28,000, to a new business in which he is an owner. Determine Dinos recognized gain on the transfer and the basis of the asset to the business if the new operation is
a: Sole proprietorship.
B: Partnership in which Dino holds a 10% interest.
C: Corporation in which Roscoe holds a 25% interest and all shareholders contribute assets for stock in the transaction.
Provide a brief explanation for what theory or concept explains your answer. What is the motivation here?

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