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Required information [The following information applies to the questions displayed below.) Melissa, Nicole, and Ben are equal partners in the Opto Partnership (calendar-year-end). Melissa decides
Required information [The following information applies to the questions displayed below.) Melissa, Nicole, and Ben are equal partners in the Opto Partnership (calendar-year-end). Melissa decides she wants to exit the partnership and receives a proportionate distribution to liquidate her partnership interest on January 1. The partnership has no liabilities and holds the following assets as of January 1: Cash Accounts receivable Stock investment Land Totals Tax Basis FMV $19,890 $ 19,890 0 26,520 8,760 15, 150 36,300 48,600 $64,950 $110,160 Melissa receives one-third of each of the partnership assets. She has a basis in her partnership interest of $29,095. (Leave no answer blank. Enter zero if applicable.) b. What is Melissa's basis in the distributed assets? (Round your intermediate and final answers to the nearest whole dollar amount.) b. What is Melissa's basis in the distributed assets? (Round your intermediate and final answers to the nearest whole dollar amount.) X Answer is complete but not entirely correct. Basis Cash $ 6,630 Accounts receivable $ 0 Stock investment $ 5,879 X Land $ 2,659 X c2. What are Melissa's basis in the distributed assets if her basis in Opto Partnership is $12,890 rather than $29,095? Complete this question by entering your answers in the tabs below. Req C1 Req c2 What are Melissa's basis in the distributed assets if her basis in Opto Partnership is $12,890 rather than $29,095? (Round your intermediate and final answers to the nearest whole dollar amount.) Basis Cash Accounts receivable Stock investment Land
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