Equal members Stu Price and Doug Billings form Smiles, LLC, a dental practice. Price contributes assets (Equipment #1) from his existing practice of $15,000 cash basis accounts receivable (since cash basis there is a $0 tax basis for the receivables) and depreciated equipment with a fair market value of $21,000 and adjusted basis of $3,000. The equipment has a three year remaining recovery period.

Billings is new to the profession and contributes equipment (Equipment #2) he purchased for $36,000 from a retiring practitioner.

what is the book basis and tax basis of Stu Price and Doug Billing ?

what is the book basis and tax basis of equipment 1 and equipment 2