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Business, 14.12.2019 01:31 Meiyuh1

Sue and andrew form sa general partnership. each person receives an equal interest in the newly created partnership. sue contributes $28,000 of cash and land with an fmv of $73,000. her basis in the land is $38,000. andrew contributes equipment with an fmv of $30,000 and a building with an fmv of $51,000. his basis in the equipment is $26,000, and his basis in the building is $38,000. how much gain must the sa general partnership recognize on the transfer of these assets from sue and andrew?

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