e d partnership to purchase the property, and then sell the limited partnership interests Shelly works for a large from whose business is to ind suitable real estate est Cack the icon to view more informacion Requirement What are the tax consequences for hely and the Caesars Limited Partnership of Shels receipt of the partnership interest? Shelly will report of Assuming there are no partnership labies, Shellys basis in the partnership will amount to - This amount be deducted now be amore in the future as an organizational expenditure. The cash contribution from Shely The partners Shelly's capital account is In addition, the partnership recognize again or loss on the deemed exchange of property for Shelly's services, and this gain or loss adjust the basis of its assets for the recognised gain or loss Choose from any it or enter any number in the input fields and then continue to the next question More Info In the current year, Shelly received a 3% limited partnership interest in the Caesars Limited Partnership. Shelly received this interest partially in payment for her services in selling partnership interests to others, but she also was required to contribute $6,000 in cash to the partnership. Similar limited partnership interests sold for $22,000 at approximately the same time that Shelly received her interest. Print | Done Jcat loss e d partnership to purchase the property, and then sell the limited partnership interests Shelly works for a large from whose business is to ind suitable real estate est Cack the icon to view more informacion Requirement What are the tax consequences for hely and the Caesars Limited Partnership of Shels receipt of the partnership interest? Shelly will report of Assuming there are no partnership labies, Shellys basis in the partnership will amount to - This amount be deducted now be amore in the future as an organizational expenditure. The cash contribution from Shely The partners Shelly's capital account is In addition, the partnership recognize again or loss on the deemed exchange of property for Shelly's services, and this gain or loss adjust the basis of its assets for the recognised gain or loss Choose from any it or enter any number in the input fields and then continue to the next question More Info In the current year, Shelly received a 3% limited partnership interest in the Caesars Limited Partnership. Shelly received this interest partially in payment for her services in selling partnership interests to others, but she also was required to contribute $6,000 in cash to the partnership. Similar limited partnership interests sold for $22,000 at approximately the same time that Shelly received her interest. Print | Done Jcat loss