Question: Identify the tax issue or issues suggested by the following

Identify the tax issue or issues suggested by the following situations and state each issue in the form of a question:
BR Inc. owns a 20 percent interest in a limited partnership. All the other partners are individual shareholders in BR. This year, BR sold land to the partnership for use in the partnership’s business activity. BR’s basis in the land was $400,000, and the selling price was $275,000. This price was determined by an independent appraiser.

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  • CreatedNovember 03, 2015
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