The LLC has assets with a basis of $1,000,000 and a fair market value of $2,400,000. The entity has no liabilities. T has an opportunity to purchase a 25% interest in the entity. The other 75% of the partnership are unrelated to T or each other. Explain how the partnerships willingness (or unwillingness) to make a section 743 election should affect the price T is willing to pay for the interest.

Answer rating: 100% (QA)

Answer A Section 743 election in an LLC Limited Liability Company can significantly impact the price T is willing to pay for the 25 interest Heres why ... View the full answer