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Required information When High Horizon LLC was formed, Maude contributed the following assets in exchange for a 25 percent capital and profits interest in the
Required information When High Horizon LLC was formed, Maude contributed the following assets in exchange for a 25 percent capital and profits interest in the LIC Fa Market BasisValue Maude: Cash Land" $ 33,008 $ 33,808 128,80 387,259 $161,8ee $428,25e Nonrecourse debt secured by the land equals $191,500 James. Harold, and Jenny each contributed $228,750 in cash for a 25 percent profits and capital interest (Leave o answer blenk. Enter zero if applicable.) b. What is Maude's tax basis in her LLC interest
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