Continue with the facts presented in Problem 35. a. Construct a balance sheet for SD LLC assuming

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Continue with the facts presented in Problem 35.
a. Construct a balance sheet for SD LLC assuming that Drew’s services are completed immediately after forming SD. The balance sheet should reflect the LLC’s basis in the assets and the fair market value of these assets.
b. Outline any planning opportunities that may minimize current taxation to any of the parties.

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South Western Federal Taxation 2015

ISBN: 9781305310810

38th Edition

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

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