Ashley and benjamin are the sole owners of super corporation. ashley owns 40% of the stock and benjamin owns 60%. several years after the creation of the corporation, ashley contributes an additional $20,000 in cash and benjamin contributes additional property with a fair market value of $30,000 and an adjusted basis of $25,000.
what amount of income is recognized by super corporation as a result of these contributions?
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Ashley and benjamin are the sole owners of super corporation. ashley owns 40% of the stock and benja...
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