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erastovalidia [21]
3 years ago
9

Pablo has a $180,200 basis in his partnership interest. On May 9 of the current tax year, the partnership distributes to him, in

a proportionate current distribution, cash of $72,080, cash basis receivables with an inside basis of $0 and a fair market value of $45,050, and land with a basis and fair market value to the partnership of $234,260.
If an amount is zero, enter "0".a. How much is Pablo’s realized and recognized gain on the distribution?b. What is Pablo’s basis in the receivables, land, and partnership interest following the distribution?
Business
1 answer:
Nata [24]3 years ago
4 0

Answer:

Explanation:

The computation of the realized gain is shown below:

= Cash + fair market value +  land with a basis and fair market value to the partnership - partnership interest

= $72,080 +$45,050 + $234,260 - $180,200

= $171,190

The regularized gain would be  $171,190 and recognized gain on the distribution would be zero.

The computation of the land would be

= Partnership interest - cash

= $180,200 - $72,080

= $108,120

And, the receivables and the partnership interest would be zero.

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B. Forecast for August = 42.45

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During its first year of operations, puffin, incorporated reported sales revenue of $388,200 but only collected $308,000 in cash
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A legal entity is an entity that exists legally separate from its owners, managers, operators, employees, and agents. Legal entities have the same powers as individuals, including the right to own and dispose of property, the power to sue and be sued, and the power to contract for a profit. A business example is an agriculture. An example transaction is a home sale.

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When you create an appointment schedule for the doctor, based on her preferences, you should (D) all of the above.

<h3>What is an appointment?</h3>
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<h3>Solution -</h3>

So when we create an appointment for the doctor, based on her preferences we should:
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