Two people have formed a limited liability company (LLC). Their initial investment was $1,200,000. Later, they purchased
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Question:
Two people have formed a limited liability company (LLC). Their initial investment was $1,200,000. Later, they purchased a new building for $3 million and paid 25% down. What is their basis in the stock of the LLC?
A)
$1,200,000
B)
$4,200,000
C)
$3,450,000
D)
$1,950,000
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Posted Date: