Partners w x y and z form the ace partnership contributing

Partners w x y and z form the ace partnership contributing

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Reference no: EM13578279

Partners W, X, Y, and Z form the Ace partnership, contributing the following:

	Interest		Basis	FMV	Liability
W	40%	Prop. 1	$40,000	$200,000	$160,000
X	40%	Prop. 2	$120,000	$60,000	$20,000
Y	10%	Prop. 3	$10,000	$70,000	$60,000
Z	10%	Prop. 4	$30,000	$20,000	$10,000

How much is each partner%u2019s basis in their partnership interest?

Reference no: EM13578279

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