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Kenisha and Shawna form the equal KS LLC, with a cash contribution of $966,000 from Kenisha and a property contribution (adjusted basis of $1,014,300, fair

image text in transcribed Kenisha and Shawna form the equal KS LLC, with a cash contribution of $966,000 from Kenisha and a property contribution (adjusted basis of $1,014,300, fair market value of $966,000) from Shawna. If an amount is zero, enter " 0 .". a. How much gain or loss, if any, does Shawna realize on the transfer? Does Shawna recognize any gain or loss? If so, how much? Shawna has realized of $, of which $ is recognized. b. What is Kenisha's tax basis in her LLC interest? \$ Section 704(b) book basis? \& x c. What is Shawna's tax basis in her LLC interest? $ Section 704(b) book basis? s d. What tax basis does the LLC take in the property transferred by Shawna? e. Are there more effective ways to structure the formation

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