subject
Business, 22.05.2020 05:04 Viishnu15

David contributes investment land with a basis of $24,000 and an FMV of $40,000 to a partnership for a 10% interest in partnership capital, profits, and losses. The land is subject to a $30,000 recourse liability, which is assumed by the partnership. The partnership has other recourse liabilities of $18,000. Partners share the economic risk of loss from recourse liabilities in the same way they share partnership losses. David must recognize a
a. $3,000 capital gain.
b. $3,000 capital loss.
c. $1,200 capital gain.
d. $1,200 capital loss.

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 19:30
How does knowing about supply and demand
Answers: 1
question
Business, 23.06.2019 00:00
In this multi-channel funnel report, which two channels have the highest overlap and would benefit from coordinated marketing messaging?
Answers: 2
question
Business, 23.06.2019 00:40
Skathy lee berggren, a professor of oral communication at cornell university, indicates “a lot of my students re­ally [only] scratch the surface with the type of research they’re doing.” according to andy guess, at inside higher ed, “just because students walk in the door as ‘digital natives’, doesn’t mean they’re equipped to handle the heavy lifting of digital databases and proprietary search engines that comprise the bulk of modern, online re­search techniques.” students erroneously think a google search is research. as you read through the reasons that should stimulate your interest in studying research methods or evaluate the nine factors that guarantee good research, what actions do you propose to narrow the gap between students’ research competence and what’s required of a modern college graduate about to become a manage
Answers: 1
question
Business, 23.06.2019 02:10
Ben is the owner of a small organization with a few employees. he plans to have a data warehouse for the limited number of users in his organization. which data warehouse is most suited for ben's organization? o a. lan-based o b. stationary o c. distributed od. virtual
Answers: 2
You know the right answer?
David contributes investment land with a basis of $24,000 and an FMV of $40,000 to a partnership for...
Questions
question
Mathematics, 30.11.2020 20:30
question
Mathematics, 30.11.2020 20:30