Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Partner A contributes property worth $80,000 and a basis of $25,000 to a partnership in re...

Partner A contributes property worth $80,000 and a basis of $25,000 to a partnership in return for a 25% interest in the partnership. The property contributed by Partner A is encumbered with

Partner A contributes property worth $80,000 and a basis of $25,000 to a partnership in return for a 25% interest in the partnership. The property contributed by Partner A is encumbered with a mortgage of $40,000. Partner A executed a personal guarantee on the mortgage note. What is Partner A’s basis in his partnership interest?

a. 45,000

b. 65,000

c. 120,000

d. 35,000

Aug 01 2021 View more View Less

Answer (Solved)

question Subscribe To Get Solution

Related Questions