Business, 20.12.2019 21:31 Jeamileth

Seoyun and nicole form indigo corporation with the following transfers: inventory from seoyun (basis of $360,000 and fair market value of $400,000) and improved real estate from nicole (basis of $320,000 and fair market value of $375,000). nicole, an accountant, agrees to contribute her services (worth $25,000) in organizing indigo. the corporation’s stock is distributed equally to seoyun and nicole. as a result of these transfers:

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Seoyun and nicole form indigo corporation with the following transfers: inventory from seoyun (basi...

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