Erica and Brett decide to form their new motorcycle bu contributing cash, property, or both. In addition to the First Bank at the time it is formed. Brett contributes cas building has an FMV of $42,000 and an adjusted basis will assume. What is Brett's outside tax basis in his LLC Multiple Choice $34,500 as an LLC. Each will receive an equal profits (loss) interest by ers' contributions, their LLC will obtain a $47,000 nonrecourse loan 4,400 and a building he bought as a storefront for the motorcycles 27,000 and is secured by a $32,000 nonrecourse mortgage that the est? Erica and Brett decide to form their new motorcycle bu contributing cash, property, or both. In addition to the First Bank at the time it is formed. Brett contributes cas building has an FMV of $42,000 and an adjusted basis will assume. What is Brett's outside tax basis in his LLC Multiple Choice $34,500 as an LLC. Each will receive an equal profits (loss) interest by ers' contributions, their LLC will obtain a $47,000 nonrecourse loan 4,400 and a building he bought as a storefront for the motorcycles 27,000 and is secured by a $32,000 nonrecourse mortgage that the est