Question: When Atwood Construction LLC was formed, Priscilla contributed land (value of $814,000 and basis of $700,000) $80,000 in securities and $20,000 cash. Antonio contributed securities

When Atwood Construction LLC was formed, Priscilla contributed land (value of $814,000 and basis of $700,000) $80,000 in securities and $20,000 cash. Antonio contributed securities (value of $914,000 and basis of $853,000). Both partners received a 50% interest in partnership profits and capital.

If Atwood Construction sells the land several years later for $1,100,000, Priscilla reports a gain of? Antonio s gain is?

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