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Exercise 11-10 (Algorithmic) (LO. 3) Franco owns a 60% interest in the Dulera LLC. On December 31 of the current tax year, his basis in
Exercise 11-10 (Algorithmic) (LO. 3) Franco owns a 60% interest in the Dulera LLC. On December 31 of the current tax year, his basis in the LLC interest is $183,200. The fair market value of the interest is $201,520. In a proportionate current distribution, the LLC distributes $36,640 cash and equipment with an adjusted basis of $91,600 and a fair market value of $137,400 to him on that date. How much is Franco's adjusted basis in the LLC interest after the distribution, and what is the amount of his basis in the equipment received? Franco's adjusted basis in the LLC interest: Franco's basis in the equipment: $
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