Zinc lp was formed on august 1, 20x9 when the partnership was formed al contributed 10000 in cash and inventory with an fmv and tax basis of 40000. In addition bill contributed equipment with fmv of 30000 and adjusted basis of 25000 along with accounts receivable with an fmv and tax basis of 20000. Also Chad contributed land with an fmv of 50000 and tax basis of 35000. Finally Dave contributed a machine secured by 35000 of debt within fmv of 15000 and a tax basis of 10000. 

What is the total inside basis of all assets contributed to zinc lp?

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Answer I The total inside basis of all assets contributed to zinc lp i... View the full answer