User Account

All Pages

What is us basis in his tu partnership interest

Assignment Help Accounting Basics
Reference no: EM131665443

Question - T Transfers a building ($90,000 market value, $40,000 basis) plus a $60,000 recourse debt on the building, to a general partnership in exchange for a 30% capital and profits interest valued at $30,000. U transfers $70,000 cash for the remaining capital and profits interest. What is U's basis in his TU partnership interest?

a. $0

b. $12,000

c. $70,000

d. $88,000

e. $112,000

A short explanation/calculation is appreciated.

Reference no: EM131665443

Questions Cloud

What is the maximum amount that baltic may deduct : Baltic Partnership, a cash basis calendar year entity, What is the maximum amount that Baltic may deduct on the 20X6 partnership return
Plot the predicted costs and actual costs for given hours : Linear cost approximation. Dr. Young, of Young and Associates, LLP, is examining how overhead costs behave as a function of monthly physician contact hours bill
What are the pros and cons of expensing r & d : What are the pros and cons of expensing R & D, and what effect would such policy have on current and future expenditures
Ideologies appropriate for respective sports : Define how they are different. Are their core ideologies appropriate for their respective sports?
What is us basis in his tu partnership interest : U transfers $70,000 cash for the remaining capital and profits interest. What is U's basis in his TU partnership interest
Define customer-service costs and number of service reports : Estimating a cost function, high-low method. Lacy Dallas is examining customer-service costs in the southern region of Camilla Products.
Determining the relationship of technology : The question to consider in the final stages of this module is the relationship of technology to war, and whether, when we try to understand ourselves
Dependence as foretelling a brighter future : Do you envision this dependence as foretelling a brighter future, or a kind of self destructive hell?
Estimated operating budget for the helicopter fleet be : If Reisen Travel expects each helicopter to make, on average, 1,200 round-trips in the coming year, what should its estimated operating budget.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd