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Exercise 21-18 (Algorithmic) (L0.3) Henrietta transfers cash of $152,800 and equipment with a fair market value of $45,840 (basis to her as a sole proprietor,

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Exercise 21-18 (Algorithmic) (L0.3) Henrietta transfers cash of $152,800 and equipment with a fair market value of $45,840 (basis to her as a sole proprietor, $18,336) in exchange for a 40% profit and loss interest worth $198,640 in a partnership. If an amount is zero, enter "0". a. How much are Henrietta's realized and recognized gains? Realized gain: $ Recognized gain: $ b. What is the amount of Henrietta's basis in her partnership interest? c. What is the partnership's basis in the contributed equipment? Exercise 21-17 (Algorithmic) (LO.2) Enercio contributes $209,000 in exchange for a 40% interest in the calendar year ABC LLC, which is taxed as a partnership. This year, the LLC generates $167,200 of ordinary taxable income and has no separately stated income or expenses. Enercio withdrew $20,900 from the partnership during the year. If an amount is zero, enter "0". Enercio is taxed on what amount of ABC's income? How much of the $20,900 withdraw will Enercio be taxed

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