Question
81. Timmy contributes property with a basis of $20,000 and a FMV of $40,000 in return for a 25% interest in a partnership.2 years after
81. Timmy contributes property with a basis of $20,000 and a FMV of $40,000 in return for a 25% interest in a partnership.2 years after Timmys contribution, the partnership sells the property contributed by Timmy for $60,000. How much of the gain is allocated to Timmy?
A. 40,000
B. 20,000
C. $25,000
D. $30,000
E. Need more information
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Surviving The OSHA Audit Common Sense Solutions To Your Most Feared OSHA Compliance Issues
Authors: David A. Casavant
1st Edition
0998743704, 978-0998743707
