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Business, 12.12.2019 04:31 dpazmembreno

When high horizon llc was formed, maude contributed the following assets in exchange for a 25 percent capital and profits interest in the llc: basis fair market value maude: cash $ 37,500 $ 37,500 land* 119,000 396,250 totals $ 156,500 $ 433,750 *nonrecourse debt secured by the land equals $184,500 james, harold, and jenny each contributed $249,250 in cash for a 25 percent profits and capital interest. (leave no answer blank. enter zero if applicable.) e. prepare a tax basis balance sheet for the high horizon llc showing the tax capital accounts for the members.

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