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Calculate Outside basis, all info is given below Immovable Property (FMV) $700,000 Purchase Price (3 yrs. ago) $400,000 Exchange of 80% Profits and Capital interest

Calculate Outside basis, all info is given below

Immovable Property (FMV) $700,000

Purchase Price (3 yrs. ago) $400,000

Exchange of 80% Profits and Capital interest of a LLC

The LLC owes $400,000 (nonrecourse debt)

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