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Old 01-02-2019, 04:20 PM
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oldjudge oldjudge is offline
j'a'y mi.ll.e.r
 
Join Date: May 2009
Location: The Bronx
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I'm not an accountant either, but when you start a business aren't there then two entities, your collection and the business. When cards are moved to the business you should set up a market based transfer price. Based on this price you will have a taxable gain or loss on your personal disposition to the business, and a value for the inventory, namely the transfer prices, for your business.
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