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Andreyy89
3 years ago
13

Sharon contributed property to the newly formed QRST Partnership. The property had a $100,000 adjusted basis to Sharon and a $16

0,000 fair market value on the contribution date. The property was also encumbered by a $90,000 nonrecourse debt, which was transferred to the partnership on that date. Sharon is treated as a general partner. She is allocated 30% of QRST's profits, and 20% of QRST's losses. Sharon's basis in the partnership interest after the formation transaction is:
a.$127,000.
b.$28,000.
c.$118,000.
d.$37,000.
e.$88,000.

Business
1 answer:
Flura [38]3 years ago
3 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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