Assumed debt = purchase price?
My wife and I helped form a 501c3 non profit a few years ago. Operating in conjunction with the nonprofit was a coffee shop (formed as a C-Corp). On January 1st of 2018 my wife and I formed an LLC and took over operation of the coffee shop. We did not "buy" the shop, but we did assume the debt as well as inventory, furniture and equipment (assets).
Would that debt minus assets be considered our startup costs?