C and D form the CD, LLC even partnership. A contributed land with an adjusted basis of $50 and FMV of $100. D contributed equipment with an adjusted basis of $75 and FMV of $100. Immediately after this contribution, what is the balance in D's 704(b) capital account?
C and D form the CD, LLC even partnership. A contributed land with an adjusted basis of $50 and FMV of $100. D contributed equipment with an adjusted basis of $75 and FMV of $100. Immediately after this contribution, what is the balance in D's 704(b) capital account?
Chapter20: Corporations And Parterships
Section: Chapter Questions
Problem 5BCRQ
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Transcribed Image Text:C and D form the CD, LLC even partnership. A
contributed land with an adjusted basis of $50
and FMV of $100. D contributed equipment with
an adjusted basis of $75 and FMV of $100.
Immediately after this contribution, what is the
balance in D's 704(b) capital account?
$175
$75
$100
$50
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