Brian and katrice each contribute 50,000 cash to the partnership which purchases 100,000 of securities with the contribution partnership agreement requires proper maintenance of capital account liquidation according to positive capital account balances restoration of deficit Capital account balances and the traditional method with curative allocations for our 704 c property assume after the securities have appreciated in value to 150,000 a new partner James makes a 75,000 cash contribution exchange for 1/3 interest in the partnership the partnership makes her evaluation of the securities at the time of James submission to the partnership writes up the value of the marketable securities to fair market value securities are later sold for 180,000 how much of the tax gain is allocated to brian?

Answer rating: 100% (QA)

To determine the tax gain allocated to Brian we need to follow the steps of allocating gain under th... View the full answer