Question
Van makes an investment in an LLC in 2017. Van's capital contributions to the LLC consisted of $30,000 cash and a building with an adjusted
Van makes an investment in an LLC in 2017. Van's capital contributions to the LLC consisted of $30,000 cash and a building with an adjusted basis of $70,000, subject to a nonrecourse liability (seller financing) of $20,000. Calculate the amount that Van has at-risk in the activity immediately after making the capital contributions. $
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Auditing Essentials Quick Access To The Important Facts And Concepts Complete Overview Simply Presented Easy To Grasp
Authors: Frank C. Giove, Accounting Study Guides
1st Edition
0878918795, 978-0878918799
