Lizzie Week 5 Assignment Chapter 10 & 11

Lizzie Week 5 Assignment Chapter 10 & 11 - $4,500. b)...

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Taxation of Partnerships and Partners 2010 By Cheryl Rhaburn Chapter 10: Problems 15 a) Liz realized transfer is ($15,000; $0 recognized b) Tom’s basis in the partnership interest is $60,000 c) Liz’s basis in the partnership interest is $75,000 d) The basis the partnership take in the property transferred by Liz is $75,000 e) Sell and contribute cash Problem 28 a) RB and ordinary partnership income $17,500; interest $3,000, tax-exempt interest
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Unformatted text preview: $4,500. b) Bob basis in the partnership interest is $16,500 c) Rob basis in the partnership interest is $21,500 Tax Return Problem 1 Submitted under separate attachment Chapter 11: Problem 15 a) CDE Partnership would not recognize gain or loss would be $0. b) Dan recognized gain or loss would be $0. c) Inventory $40,000; land $35,000; partnership interest $35,000....
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This document was uploaded on 01/26/2011.

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