Individuals Adam and Bonnie form an S corporation,with Adam contributing cash of $100,000 for a 50% interest and Bonnie contributing appreciated ordinary income property with an adjusted basis of $20,000 and a fair market value of $100,000.
Definitions:
Ski Resort
A specialized tourist facility that offers skiing and snowboarding activities along with amenities like lodging, food services, and equipment rental.
Golf Resort
A specialized leisure facility often combining a hotel and golf courses along with other amenities such as spa services, restaurants, and event spaces.
Acquisition of Assets
The process through which a company buys assets, which could range from tangible assets like equipment to intangible assets like patents.
Hostile Takeover
An acquisition attempt by a company or individual against the wishes of the company's management and board of directors.
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