A and B formed the equal AB Partnership on January 1 of the current year. A contributed $100,000 of cash and land with a fair market value of $112,500 and an adjusted basis of $93,750. B contributed equipment with a fair market value of $212,500 and an adjusted basis of $25,000. B had used the equipment in his sole proprietorship. Compute the following: A's gain realized_ Cash Cant 100K + FMU B's gain realized FMW A's gain recognized 118,750 LOOK 112,500 212 500 93750 $212,500 112,500 $212,500 B's gain recognized_ AB's gain recognized_ A's basis in his partnership interest_ B's basis in his partnership interest_
A and B formed the equal AB Partnership on January 1 of the current year. A contributed $100,000 of cash and land with a fair market value of $112,500 and an adjusted basis of $93,750. B contributed equipment with a fair market value of $212,500 and an adjusted basis of $25,000. B had used the equipment in his sole proprietorship. Compute the following: A's gain realized_ Cash Cant 100K + FMU B's gain realized FMW A's gain recognized 118,750 LOOK 112,500 212 500 93750 $212,500 112,500 $212,500 B's gain recognized_ AB's gain recognized_ A's basis in his partnership interest_ B's basis in his partnership interest_
Chapter10: Partnerships: Formation, Operation, And Basis
Section: Chapter Questions
Problem 32P
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Please help me with D, E, F
Transcribed Image Text:A and B formed the equal AB Partnership on January 1 of the current year. A contributed $100,000 of
cash and land with a fair market value of $112,500 and an adjusted basis of $93,750. B contributed
equipment with a fair market value of $212,500 and an adjusted basis of $25,000. B had used the
equipment in his sole proprietorship.
Compute the following:
A's gain realized Al2,500
Cash Cond100K
112,500
B's gain realized_$212,500
A's gain recognized
केगाह, 750
112,500
212 500
93750
B's gain recognized
AB's gain recognized
A's basis in his partnership interest_
B's basis in his partnership interest
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