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On July 9, 2008, Tom purchased a computer (five-year property for MACRS purposes)for $6,000, which he used in his sole proprietorship. He claimed $1,200 (0.20 × $6,000)of depreciation for 2008. On February 9, 2009, he transfers the computer and other assets of his sole proprietorship to Brewer Corporation in exchange for Brewer stock in a transfer qualifying under Sec. 351. What is the amount of depreciation for 2008 claimed by Tom? What is the amount of depreciation for 2009 claimed by Brewer Corporation? What is Brewer's basis in the computer on the date of transfer?
Erectile Disorder
A sexual dysfunction characterized by the consistent inability to maintain an erection sufficient for satisfactory sexual activity.
Physiological Origin
Refers to the biological basis or causes of a bodily function or characteristic.
Product Line
A group of related products under a single brand offered by a company.
Selective Demand
Consumer demand for specific brands or products rather than the general product category.
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