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  3. Study Set
    Federal Taxation
  4. Exam
    Exam 10: Property Transactions: Determination of Basis and Gains and Losses
  5. Question
    Fte Basis for Nonbusiness Property Changed to Business Use Is
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Fte Basis for Nonbusiness Property Changed to Business Use Is

Question 48

Question 48

True/False

fte basis for nonbusiness property changed to business use is the greater of the adjusted basis of the property or its fair market value on the date it is converted to business use.

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