Business, 23.04.2021 17:30, cchsemily4651

Franco owns a 60% interest in the Dulera LLC. On December 31 of the current tax year, his basis in the LLC interest is $228,800. The fair market value of the interest is $251,680. In a proportionate current distribution, the LLC distributes $45,760 cash and equipment with an adjusted basis of $114,400 and a fair market value of $171,600 to him on that date. How much is Franco's adjusted basis in the LLC interest after the distribution, and what is the amount of his basis in the equipment received? Franco's adjusted basis in the LLC interest: $fill in the blank 1 Franco's basis in the equipment: $fill in the blank 2

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 11:10, addsd

Sam and diane are completing their federal income taxes for the year and have identified the amounts listed here. how much can they rightfully deduct? • agi: $80,000 • medical and dental expenses: $9,000 • state income taxes: $3,500 • mortgage interest: $9,500 • charitable contributions: $1,000.

Answers: 1

continue

Business, 22.06.2019 11:50, tre9990

The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november. materials conversion costs total equivalent units

Answers: 1

continue

Business, 22.06.2019 19:30, michael1498

Which of the following businesses is most likely to disrupt an existing industry? a. closer connex developed an earphone that receives emails and text messages and converts them to voice messages. the first models had poor reception, but they rapidly improved over time. b. mega technologies reconfigured the components used in its touchscreen tablets to create a new type of wearable device for use in restaurants and other service industries. c. particle inc. developed a teleportation technology that can transport physical materials instantaneously across great distances. d. altrea added advanced camera technology to its premium line of smartphones so that they would take the highest-quality photos of all phones on the market.

Answers: 1

continue

Business, 22.06.2019 19:50, crzyemo865

Aproduction line has three machines a, b, and c, with reliabilities of .96, .86, and .85, respectively. the machines are arranged so that if one breaks down, the others must shut down. engineers are weighing two alternative designs for increasing the line’s reliability. plan 1 involves adding an identical backup line, and plan 2 involves providing a backup for each machine. in either case, three machines (a, b, and c) would be used with reliabilities equal to the original three. a. compute overall system reliability under plan 1. (round your intermediate calculations and final answer to 4 decimal places.) reliability b. compute overall system reliability under plan 2. (round your intermediate calculations and final answer to 4 decimal places.) reliability c. which plan will provide the higher reliability? plan2plan1

Answers: 3

continue

Do you know the correct answer?

Franco owns a 60% interest in the Dulera LLC. On December 31 of the current tax year, his basis in t...