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Marc, LP was formed on August 1, 2022. When the partnership was formed, Alex contributed $10,000 in cash and inventory with an FMV and tax
Marc, LP was formed on August 1, 2022. When the partnership was formed, Alex contributed $10,000 in cash and inventory with an FMV and tax basis of $42,000. In addition, Brian contributed equipment with an FMV of $30,000 and adjusted basis of $25,000 along with accounts receivable with an FMV and tax basis of $20,000. Also, Charlie contributed land with an FMV of $50,000 and tax basis of $35,000. Finally, Donnie contributed a machine, secured by $35,000 of debt, with an FMV of $15,000 and a tax basis of $10,000. What is the total inside basis of all the assets contributed to Marc, LP? $177,000$167,000$202,000$142,000
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