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Business, 30.06.2019 00:00 jahnoibenjamin

Xena and xavier form the xx llc. xena contributes cash of $20,000, land (basis = $40,000; fair market value = $25,000), equipment (basis = $0; fair market value = $35,000), and inventory (basis = $30,000; fair market value = $40,000). xavier contributed $100,000 of cash. how much is the partnership's basis in the land, equipment, and inventory, and how much is xena's basis in the partnership interest?

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Xena and xavier form the xx llc. xena contributes cash of $20,000, land (basis = $40,000; fair mark...
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