Business, 24.09.2019 03:30, felipa11

Sue and andrew form sa general partnership. each person receives an equal interest in the newly created partnership. sue contributes $12,000 of cash and land with a fmv of $57,000. her basis in the land is $22,000. andrew contributes equipment with a fmv of $14,000 and a building with a fmv of $35,000. his basis in the equipment is $10,000, and his basis in the building is $22,000. how much gain must the sa general partnership recognize on the transfer of these assets from sue and andrew?

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Sue and andrew form sa general partnership. each person receives an equal interest in the newly crea...