Business, 16.07.2020 05:01, cbrewer37

Tom is talking to his friend Bob, who has an interest in Freedom, LLC, about purchasing his LLC interest. Bob's outside basis in Freedom, LLC, is $13,500. This includes his $3,200 one-fourth share of the LLC's debt. Bob's 704(b) capital account is $20,500. If Tom bought Bob's LLC interest for $24,000, what would Tom's outside basis be in Freedom, LLC

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Tom is talking to his friend Bob, who has an interest in Freedom, LLC, about purchasing his LLC inte...