Greg converted his sole proprietorship to an S corporation and transferred several assets to the...
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Accounting
Greg converted his sole proprietorship to an S corporation and transferred several assets to the corporation. The assets cost $17,500 and had an adjusted basis of $9,200. He also spent an additional $850 to make the conversion to an S corporation. What is his beginning basis in the S corporation? $9,200 $10,050 $17,500 $18,350
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