Question
On January 1, 2025, Shane contributed $100,000 cash in exchange for a 25% interest in Avocado LLC. During 2025, the LLC generated $140,000 ordinary taxable
On January 1, 2025, Shane contributed $100,000 cash in exchange for a 25% interest in Avocado LLC. During 2025, the LLC generated $140,000 ordinary taxable income and no separately stated income or expenses. On December 31, 2025, the LLC distributed to Shane $15,000 cash.
What amount will be included in Shanes 2025 individual tax return as profit from partnership?
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Culture Audit In Financial Services Reporting On Behaviour To Conduct Regulators
Authors: Dr Roger Miles
1st Edition
1789667755, 978-1789667752
