What is the basis for each partner

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Reference no: EM133492475

Question: Darrel, Sissy, and Carol form a partnership. Darrel and Sissy give equipment and a building, respectively. Carol agrees to perform all of the accounting and office work in exchange for a 10% interest.

FMV Basis Partnership %

Darrel's equipment $200,000 $100,000 60%

Sissy's building $100,000 $50,000 30%

Carol's services $0 $0 10%

What is the basis for each partner in his or her partnership interest?

Reference no: EM133492475

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