Business, 27.05.2020 02:58, dezmondpowell

Andy is talking to his friend Bruce, who has an interest in Arlington, LLC, about purchasing his LLC interest. Bruce’s outside basis in Arlington, LLC is $21,000. This includes his $5,000 one-fourth share of the LLC’s debt. Bruce’s 704(b) capital account is $25,000. If Andy bought Bruce’s LLC interest for $18,000, what would Andy’s outside basis be in Arlington, LLC?

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Andy is talking to his friend Bruce, who has an interest in Arlington, LLC, about purchasing his LLC...