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AB Corporation and YZ Corporation formed a partnership to construct a shopping mall. AB contributed $ 5 0 1 , 0 0 0 cash, and
AB Corporation and YZ Corporation formed a partnership to construct a shopping mall. AB contributed $ cash, and YZ contributed land $ FMV and $ basis in exchange for a percent interest in ABYZ Partnership. Immediately after its formation, ABYZ borrowed $ from a local bank. The debt is recourse unsecured by any specific partnership asset Required: a Compute each partner's initial basis in its partnership interest, assuming that both and are general partners. b Compute each partner's initial basis in its partnership interest, assuming that is a general partner, and is a limited partner. Complete this question by entering your answers in the tabs below. Compute each partner's initial basis in its partnership interest, assuming that both and are general partners. tableAmountABs initial basis,s initial basis,
AB Corporation and YZ Corporation formed a partnership to construct a shopping mall. AB contributed $ cash, and YZ contributed land $ FMV and $ basis in exchange for a percent interest in ABYZ Partnership. Immediately after its formation, ABYZ borrowed $ from a local bank. The debt is recourse unsecured by any specific partnership asset
Required:
a Compute each partner's initial basis in its partnership interest, assuming that both and are general partners.
b Compute each partner's initial basis in its partnership interest, assuming that is a general partner, and is a limited partner.
Complete this question by entering your answers in the tabs below.
Compute each partner's initial basis in its partnership interest, assuming that both and are general partners.
tableAmountABs initial basis,s initial basis,
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