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Tom is talking to his friend Bob, who has an interest in Freedom, LLC, about purchasing his LLC interest. Bob's outside basis in Freedom, LLC

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Tom is talking to his friend Bob, who has an interest in Freedom, LLC, about purchasing his LLC interest. Bob's outside basis in Freedom, LLC is $12,500. This includes his $3,000 one-fourth share of the LLC's debt. Bob's 704b) capital account is $19,500. If Tom bought Bob's LLC interest for $22,000, what would Tom's outside basis be in Freedom, LLC? Multiple Choice $12,500 $19,000. $22,000 $25,000

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