Mathematics, 01.09.2019 11:20 Isaiahplater27
59. gil’s outside basis in his interest in the go partnership is $100,000. in a pro- portionate nonliquidating distribution, the partnership distributes to him
cash of $30,000, inventory (fair market value of $40,000, basis to the partnership of
$20,000), and land (fair market value of $90,000, basis to the partnership of
$40,000). the partnership continues in existence.
a. does the partnership recognize any gain or loss as a result of this distribution? explain.
b. does gil recognize any gain or loss as a result of this distribution? explain.
c. calculate gil’s basis in the land, in the inventory, and in his partnership interest immediately following the distribution.
Answers: 1
Mathematics, 21.06.2019 19:30, sk9600930
Sundar used linear combination to solve the system of equations shown. he did so by multiplying the first equation by 5 and the second equation by another number to eliminate the y-terms. what number did sundar multiply the second equation by? 2x+9y=41 3x+5y=36
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Mathematics, 21.06.2019 19:30, 22emilyl530
Bobby bought 1.12 pounds of turkey at a cost of 2.50 per pound. carla bought 1.4 pounds of turkey at a cost of 2.20 per pound. who spent more and by much?
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Mathematics, 21.06.2019 22:40, anastasiasam1916
(10. in the figure, a aabc is drawn tocircumscribe a circle of radius 3 cm ,such thatthe segments bd and dc are respectively oflength 6 cm and 9 cm. find the length ofsides ab and ac.
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59. gil’s outside basis in his interest in the go partnership is $100,000. in a pro- portionate nonl...
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