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When High Horizon LLC was formed, Maude contributed the following assets in exchange for a 25 percent capital and profits interest in the LLC: Nonrecourse

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When High Horizon LLC was formed, Maude contributed the following assets in exchange for a 25 percent capital and profits interest in the LLC: "Nonrecourse liability secured by the land equals $177,500 Hiro. Harold, and Sofiya each contributed $221,250 in cash for a 25 percent profits and capitel interest. Note: Leave no answer blank. Enter zero if applicable. b. What is Maude's tax basis in her LLC interest? When High Horizon LLC was formed, Moude contributed the following assets in exchange for a 25 percent capital and profits interest in the LLC: -Nonrecourse liability secured by the land equals $177.500 Hiro, Harold, and Sofiya each contributed $221,250 in cash for a 25 percent profits and capital interest. Note: Leave no answer blank. Enter zero if applicable. c. What tax basis do Hiro, Harold, and Sofiya have in their LLC interests? When High Horizon LLC was formed, Maude contributed the following assets in exchange for a 25 percent capital and profits interest in the LLC: " Nonrecourse liability secured by the land equals $177.500 Hiro, Harold, and Sofiya each contributed $221,250 in cash for a 25 percent profits and capital interest. Note: Leave no answer blank. Enter zero if applicable. d. What is High Horizon's tax basis in its assets

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