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Rey and Luke form Force LLC. Rey contributes cash of $20,000, land (basis $40,000, fair market value $25,000), equipment (basis S0, fair market value $35,000),
Rey and Luke form Force LLC. Rey contributes cash of $20,000, land (basis $40,000, fair market value $25,000), equipment (basis S0, fair market value $35,000), and inventory (basis $30,000, fair market value $40,000). Luke contributed $100,000 of cash. What is Rey's outside basis and what basis does the partnership have in the properties contributed
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