Martin operates a law practice as a sole proprietorship using the cash method of accounting.Martin incorporates the law practice and transfers the following items to a new,solely owned corporation. Martin must recognize a gain of ________ and has a stock basis of ________:

Question

Martin operates a law practice as a sole proprietorship using the cash method of accounting.Martin incorporates the law practice and transfers the following items to a new,solely owned corporation.  Martin must recognize a gain of ________ and has a stock basis of ________:

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The Answer of Martin operates a law practice as a sole proprietorship using the cash method of accounting.Martin incorporates the law practice and transfers the following items to a new,solely owned corporation.  Martin must recognize a gain of ________ and has a stock basis of ________:

Martin Operates a Law Practice as a Sole Proprietorship Using