Question

Dusan is a member of the Tonda LLC, and all members have equal interests in capital and profits. The LLC has made an optional adjustment-to-basis election. Dusan’s interest is sold to Adele for $35,000. The balance sheet of the LLC immediately before the sale shows the following:
a. How much is the § 754 adjustment?
b. What is the amount of Adele’s basis in the acquired interest?
c. Which partners receive deductions related to the step up?


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  • CreatedSeptember 09, 2015
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