32 33 34 35 36 37 38 39 40 41 42 4) Distributions Tamara owns interest in two different entities a partnership and an S Corp Her basis in the partnership is $40,000 Her basis in the S Corp is 23 250 Tamara is the sole owner of the S Corp a Assume the partnership gives a current distribution to Tamara of $30 000 cash and land worth $20,000 (basis of $15,000) Determine the following 1 Basis of Tamara's Partnership Interest 2 Basis of Land to Tamara b Independent of part (a), assume the partnership gives a liquidating distribution to Tamara of $30,000 cash and two pieces of equipment Equipment 1 is worth 3,000 (basis 3,000) and equipment two is worth 2,000 (basis 0) Compute the following 1 Basis of Tamara's Partnership Interest 2 Basis of equipment 1 to Tamara 3 Basis of equipment 2 to Tamara c Tamara received a cash distribution of $25,500 from her S Corp Corporate level accounts at the end of the year were as follows AAA OAA Accumulated E P $9 000 13,500 900 Fill out the following table to determine how Tamara's distribution will be taxed AAA AEP OAA Stock Basis Dividend LTCG Year end balance From AAA From E P From OAA Remainder of distribution Ending balance 1 Tamara owns interest in two different entities a partnership and an S Corp Her basis in the partnership is $40,000 Her basis in the S Corp is 23,250 Tamara is the sole owner of the S Corp a Assume the partnership gives a current distribution to Tamara of $30,000 cash and land worth $20 000 (basis of $15,000) Determine the following 1 Basis of Tamara's Partnership Interest 2 Basis of Land to Tamara b Independent of part (a), assume the partnership gives a liquidating distribution to Tamara of $30,000 cash and two pieces of equipment Equipment 1 is worth 3,000 (basis 3,000) and equipment two is worth 2,000 (basis 0) Compute the following 1 Basis of Tamara's Partnership Interest 2 Basis of equipment 1 to Tamara 3 Basis of equipment 2 to Tamara c Tamara received a cash distribution of $25,500 from her S Corp Corporate level accounts at the end of the year were as follows AAA OAA Accumulated E P $9,000 13,500 900 Fill out the following table to determine how Tamara's distribution will be taxed AAA AEP OAA Stock Basis Dividend LTCG Year end balance From AAA From E P From OAA Remainder of distribution Ending balance

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32 33 34 35 36 37 38 39 40 41 42 4) Distributions Tamara owns interest in two different entities  a partnership and an S Corp  Her basis in the partnership is $40,000  Her basis in the S Corp is 23 250  Tamara is the sole owner of the S  Corp  a  Assume the partnership gives a current distribution to Tamara of $30 000 cash and land worth $20,000 (basis of $15,000)  Determine the following  1  Basis of Tamara's Partnership Interest 2  Basis of Land to Tamara b  Independent of part (a), assume the partnership gives a liquidating distribution to Tamara of $30,000 cash and two pieces of equipment  Equipment 1 is worth 3,000 (basis  3,000) and equipment two is worth 2,000 (basis  0)  Compute the following  1  Basis of Tamara's Partnership Interest 2  Basis of equipment 1 to Tamara 3  Basis of equipment 2 to Tamara c  Tamara received a cash distribution of $25,500 from her S Corp  Corporate level accounts at the end of the year were as follows  AAA OAA   Accumulated E P $9 000 13,500 900 Fill out the following table to determine how Tamara's distribution will be taxed  AAA AEP OAA Stock Basis Dividend LTCG Year end balance From AAA From E P From OAA Remainder of distribution Ending balance 1 Tamara owns interest in two different entities  a partnership and an S Corp  Her basis in the partnership is $40,000  Her basis in the S Corp is 23,250  Tamara is the sole owner of the S  Corp a  Assume the partnership gives a current distribution to Tamara of $30,000 cash and land worth $20 000 (basis of $15,000)  Determine the following  1  Basis of Tamara's Partnership Interest 2  Basis of Land to Tamara b  Independent of part (a), assume the partnership gives a liquidating distribution to Tamara of $30,000 cash and two pieces of equipment  Equipment 1 is worth 3,000 (basis  3,000) and equipment two is worth 2,000 (basis  0)  Compute the following  1  Basis of Tamara's Partnership Interest 2  Basis of equipment 1 to Tamara 3  Basis of equipment 2 to Tamara c  Tamara received a cash distribution of $25,500 from her S Corp  Corporate level accounts at the end of the year were as follows  AAA OAA Accumulated E   P $9,000 13,500 900 Fill out the following table to determine how Tamara's distribution will be taxed  AAA AEP OAA Stock Basis Dividend LTCG Year end balance From AAA From E P From OAA Remainder of distribution Ending balance

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32 33 34 35 36 37 38 39 40 41 42 4) Distributions Tamara owns interest in two different entities: a partnership and an S-Corp.

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