Answer:
Brett's outside tax basis in his LLC interest is $45000
Explanation:
A partner outside tax basis consist of basis of contributed property, partnership debt allocated to the partner without any debt relief. Non recourse debt that is more than basis of contributed property must be given to the partner that contributed to the property.
Brett's outside tax basis in his LLC interest = Cash contribution + basis of building - debt of building + Non recourse loan + non recourse mortgage + remaining mortgage on building
Cash contribution = $5000
Basis of building = $30000
Debt of building = $35000
Non recourse loan = Profit sharing ratio × Non recourse loan = 50% × $50000 = $25000
non recourse mortgage = $5000
remaining mortgage on building = 50% × $30000 = $15000
Brett's outside tax basis in his LLC interest = $5000 + $30000 - $35000 + $25000 + $5000 + $150000 = $45000
<h2>Cost:</h2>
Costs are the expenses incurred by a company or an individual in<u> order to</u> produce goods and deliver services or buy products.
<h3>The computation:</h3>
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Therefore, the birthday party will cost $97.5 if 15 guests are<u> invited.</u>
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For more information regarding the sums, refer below:
brainly.com/question/14107176
