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Business, 22.07.2019 17:40 alexcuevaz90
When bruno's basis in his llc interest is $187,200, he receives cash of $74,880, a proportionate share of inventory, and land in a distribution that liquidates both the llc and his entire llc interest. the inventory has a basis to the llc of $46,800 and a fair market value of $59,904. the land's basis is $84,240 and the fair market value is $74,880. how much gain or loss does bruno recognize and what is his basis in the inventory and land received in the distribution?
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When bruno's basis in his llc interest is $187,200, he receives cash of $74,880, a proportionate sha...
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