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6 Leo is contributing land which is currently encumbered by nonrecourse debt and no cash. 7 Mike is contributing his marketing services in exchange for
Leo is contributing land which is currently encumbered by nonrecourse debt and no cash.
Mike is contributing his marketing services in exchange for a capital interest in the partnership and cash.
Donny is contributing custombuilt machinery which is currently encumbered by nonrecourse debt and cash.
Raph is contributing a van which is currently encumbered by nonrecourse debt and cash.
Land
Services Rendered
Machinery
Van
Leo
MikE
Donny
Raph
Required:
Complete the table using cell references.
tableFair Market Value,Basis,Nonrecourse Debt$$$
Please help me to find out Nonresourse Debt allocationLand for Leo, Mike, Donny, Raph?
Nonresourse Debt allocation Machinary for Leo,Mike,Donny,Raph?
Nonresourse Debt allocationVan for Leo, Mike,Donny,Raph?
Nonresource Debt relief for Leo, Mike, Donny,Raph?
Ordinary Deduction for Leo, Mike, Donny, Raph?
Please please give right answer.
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