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Property Contribution Jonathan owns property (basis of $200,000, value of $300,000). He plans to contribute the property to the JJG Partnership in exchange for a
Property Contribution Jonathan owns property (basis of $200,000, value of $300,000). He plans to contribute the property to the JJG Partnership in exchange for a 25% interest. a. What issues arise if the partnership distributes $150,000 of cash to Jonathan three months after the property contribution? b. How can the risk of adverse tax consequences be minimized? Respond to at least two of your classmates' posts
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