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My name is Ann [436]
3 years ago
14

When bruno's basis in his llc interest is $187,200, he receives cash of $74,880, a proportionate share of inventory, and land in

a distribution that liquidates both the llc and his entire llc interest. the inventory has a basis to the llc of $46,800 and a fair market value of $59,904. the land's basis is $84,240 and the fair market value is $74,880. how much gain or loss does bruno recognize and what is his basis in the inventory and land received in the distribution?
Business
1 answer:
adoni [48]3 years ago
7 0
<span>If Bruno's basis in LLC interest is $187,200 he receives $74,880 cash. Bruno's basis in inventory is $51,346 and his basis in land is $64,183. The total value Bruno has in cash, inventory, and land is $190,409. Bruno recognized a gain of $3,209.</span>
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3 years ago
Farmer Brian has 3 acres of land which he farms efficiently. Each acre can support 10 apple trees. However the 3 acres differ in
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Answer:the opportunity cost of growing another apple tree is 2 orange trees

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3 years ago
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