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Business, 24.10.2019 18:43 sandygarcia65

Sue and andrew form sa general partnership. each person receives an equal interest in the newly created partnership. sue contributes $13,000 of cash and land with a fmv of $58,000. her basis in the land is $23,000. andrew contributes equipment with a fmv of $15,000 and a building with a fmv of $36,000. his basis in the equipment is $11,000, and his basis in the building is $23,000. how much gain must the sa general partnership recognize on the transfer of these assets from sue and andrew?

multiple choice

$0.

$4,000.

$48,000.

$52,000.

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Answers: 3

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