Question: Problem 10-27 (Algorithmic) (LO. 3, 9, 14) Kenisha and Shawna form the equal KS LLC, with a cash contribution of $690,000 from Kenisha and a

Problem 10-27 (Algorithmic) (LO. 3, 9, 14) Kenisha and Shawna form the equal KS LLC, with a cash contribution of $690,000 from Kenisha and a property contribution (adjusted basis of $724,500, fair market value of $690,000 ) from Shawna. If an amount is zero, enter "0". a. How much gain or loss, if any, does Shawna realize on the transfer? Does Shawna recognize any gain or loss? If so, how much? Shawna has realized of $ , of which \$ is recognized. b. What is Kenisha's tax basis in her LLC interest? \$ The 704(b) book basis? $ c. What is Shawna's tax basis in her LLC interest? $ The 704 (b) book basis? $ d. What tax basis does the LLC take in the property transferred by Shawna? e. Are there more effective ways to structure the formation
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