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Author Question: Hal transferred land having a $160,000 FMV and a $75,000 adjusted basis which is subject to a ... (Read 93 times)

luvbio

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on: Sep 13, 2020
Hal transferred land having a $160,000 FMV and a $75,000 adjusted basis which is subject to a $150,000 mortgage in exchange for a one-third interest in the HEF Partnership.  Hal acquired the land ten years ago. The partnership owes no other liabilities. Hal, Ellen, and Felix share profits and losses equally and each has an one-third interest in partnership capital. Hal's basis in the one-third partnership interest is
◦ $0.
◦ ($25,000).
◦ $75,000.
◦ $85,000.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by luvbio on Sep 13, 2020

bbburns21

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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luvbio

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

cam1229

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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