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Required information Kevan, Jerry, and Dave formed Albee LLC. Jerry and Dave each contributed $245,000 in cash. Kevan contributed the following assets: *Nonrecourse liability secured
Required information Kevan, Jerry, and Dave formed Albee LLC. Jerry and Dave each contributed $245,000 in cash. Kevan contributed the following assets: *Nonrecourse liability secured by the land equals $210,000. Each member received a one-third capital and profits interest in the LLC. Note: Leave no answer blank. Enter zero if applicable. Round to the nearest whole thousand. Prepare a tax basis balance sheet for Albee LLC showing the tax capital accounts for the members. What is Kevan's share of the C's inside basis? te: Enter any capital account with a debit balance as a negative amount
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