Kenisha and Shawna form the equal KS LLC, with a cash contribution of $900,000 from Kenisha and a property contribution (adjusted basis of $945,000, fair market value of $900,000) from Shawna.

b. What is Kenisha's tax basis in her LLC interest? $ Section 704(b) book basis? $

c. What is Shawna's tax basis in her LLC interest? $ Section 704(b) book basis? $

d. What tax basis does the LLC take in the property transferred by Shawna?