Van makes an investment in an LLC in the current year. Vans capital contributions to the LLC
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Van makes an investment in an LLC in the current year. Van’s capital contributions to the LLC consist of $30,000 cash and a building with an adjusted basis of $70,000, subject to a nonrecourse liability (seller financing) of $20,000. Calculate the amount that Van has at risk in the LLC immediately after making the capital contributions.
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Related Book For
Income Tax Fundamentals 2023
ISBN: 9780357719527
41st Edition
Authors: Gerald E. Whittenburg, Steven Gill
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