PLLC_Chapter2_ProblemsCorrected.docx.docx - Practical Guide...

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Practical Guide to Partnerships and LLCs—Instructor’s Guide Problems 1 Chapter 2 – Partnership Formation and Computation of Partner Basis Reading: Paragraphs 201-206. 1. If a partner contributes appreciated property to a partnership, and the partnership later sells the property, how will the deferred gain be allocated between the partners? (An Nguyen)
2. Suppose a partner contributes appreciated property to a partnership and then later sells his partnership interest for a gain. Is there any way for the partnership to adjust the basis of the partnership property upward? (Xiang Dai)
3. What is the one transaction which will cause an inside-outside basis disparity, but does not allow a Code Sec. 754 election? (Stephen Liu)

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