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Author Question: In 2016, Phuong transferred land having a $150,000 FMV and a $120,000 adjusted basis, which is ... (Read 76 times)

lbcchick

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on: Sep 13, 2020
In 2016, Phuong transferred land having a $150,000 FMV and a $120,000 adjusted basis, which is subject to a $110,000 mortgage in exchange for a one-third interest in the DSF Partnership.  Phuong had purchased the land in 2013, but the mortgage was not taken out until 2014.  The partnership owes no other liabilities. Phuong, Austin, and Alison share profits and losses equally and each has a one-third interest in partnership capital. The partnership's holding period for the land transferred by partner Phuong commences in
◦ 2013.
◦ 2014.
◦ 2016.
◦ The holding period is the same number of years that the partnership has been in existence.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by lbcchick on Sep 13, 2020

FergA

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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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lbcchick

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Reply 2 on: Sep 13, 2020
Excellent

coreycathey

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

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