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How does Mr Yang determine his adjusted basis

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Reference no: EM133035243

Question - Mr. Yang sold his interest in a business to an unrelated purchaser for $500,000 cash. How does Mr. Yang determine his adjusted basis for purposes of computing gain or loss realized on the sale if the business is:

a) A sole proprietorship?

b) A partnership?

c) An S corporation?

Reference no: EM133035243

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