Question: Continue with the facts presented in Problem 32. a. Construct a balance sheet for SD LLC assuming that Drews services are completed immediately after forming

Continue with the facts presented in Problem 32.

a. Construct a balance sheet for SD LLC assuming that Drew’s services are completed immediately after forming SD. The balance sheet should reflect the LLC’s basis in the assets and the fair market value of these assets.

b. Outline any planning opportunities that may minimize current taxation to any of the parties.

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