Business, 16.11.2019 05:31 plewse

Pablo has a $180,200 basis in his partnership interest. on may 9 of the current tax year, the partnership distributes to him, in a proportionate current distribution, cash of $72,080, cash basis receivables with an inside basis of $0 and a fair market value of $45,050, and land with a basis and fair market value to the partnership of $234,260.
if an amount is zero, enter "0".a. how much is pablo’s realized and recognized gain on the distribution? b. what is pablo’s basis in the receivables, land, and partnership interest following the distribution?

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 23:10

At the end of the current year, $59,500 of fees have been earned but have not been billed to clients. required: a. journalize the adjusting entry to record the accrued fees on december 31. refer to the chart of accounts for exact wording of account titles. b. if the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary?

Answers: 2

Answer

Business, 22.06.2019 10:10

Karen is working on classifying all her company’s products in terms of whether they have strong or weak market share and whether this share is in a slow or growing market. what type of strategic framework is she using?

Answers: 2

Answer

Business, 22.06.2019 18:30

What historical context does wiesel convey using the allusion of a fiery sky? he compares the sky to hell. the fires from air raids during world war ii the cremation of jews in the concentration camps the outbreak of forest fires from bombs in world war ii

Answers: 1

Answer

Business, 22.06.2019 20:00

On january 1, year 1, purl corp. purchased as a long-term investment $500,000 face amount of shaw, inc.’s 8% bonds for $456,200. the bonds were purchased to yield 10% interest. the bonds mature on january 1, year 6, and pay interest annually on january 1. purl uses the effective interest method of amortization. what amount (rounded to nearest $100) should purl report on its december 31, year 2, balance sheet for these held-to-maturity bonds?

Answers: 1

Answer

You know the right answer?

Pablo has a $180,200 basis in his partnership interest. on may 9 of the current tax year, the partne...

Questions