Partner B is a 25% partner in ABCD Partnership. B contributes property with a value of $100,000

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Partner B is a 25% partner in ABCD Partnership. B contributes property with a value of $100,000 and a basis of $40,000 to the partnership. Within two weeks of the contribution, the partnership borrows $40,000 and immediately distributes this amount to Partner B. The liability is recourse and B's share of the partnership liability is 25%.

What portion of the contributed property has been deemed to be sold to the partnership by B?

Related Book For answer-question

South western Federal Taxation 2017 Corporations, Partnerships, Estates and Trusts

ISBN: 9781305874336

40th edition

Authors: William H. Hoffman, William A. Raabe , David M. Maloney, James C. Young

See More Books

Posted Date: Apr 29, 2022 12:42 AM

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Partner B is a 25% partner in ABCD Partnership. B contributes property with a value of $100,000

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Value of the property contributed 100000 Basis of the property contributed40000 Recourse li... View the full answer

South western Federal Taxation 2017 Corporations, Partnerships, Estates and Trusts

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