Lola owns a one-half interest in the Lenax LLC. Her basis in this ownership interest is $22,000 at the end of the year, after accounting for the calendar year LLC's current operations. On that date, the LLC distributes $25,000 cash to Lola in a proportionate current distribution. What is the amount of any gain or los

$3,000

Explanation:

With a basis of $22,000, Lola received a cash distribution of $25,000.

She would therefore get a gain (loss) of,

= $25,000 - $22,000

= $3,000

Lola received a gain of $3,000.

It is worthy of note that her basis after this distribution is now zero.

(75years ,i believe is the correct answer.good luck

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