Jerry has a $50,000 basis for his interest in JJ Partnership before receiving a current distribution consisting of $8,000 in money, accounts receivable having a zero basis to the partnership, and land having a $28,000 basis to the partnership. What will Jerry's basis be in these assets?
What will be an ideal response?
Generally, the partner's basis for property distributed by the partnership carries over from the partnership. Jerry will take the carryover basis in the land and receivables.
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A cash budget
A) is an optional feature of a master budget. B) requires input from all parts of the organization. C) involves nonmonetary information. D) can only be prepared at year end.
Once the organization becomes aware of the limitations placed on it by the labor market and the legal environment, it can begin to consider the ______ issues that control its recruiting processes.
A. external B. internal C. competitive D. isolated
Partridge, Inc provides the following information for 2017
Net income $33,000 Market price per share of common stock $13/share Dividends paid $0.90/share Common stock outstanding at Jan. 1, 2017 110,000 shares Common stock outstanding at Dec. 31, 2017 155,000 shares The company has no preferred stock outstanding. Calculate the dividend yield for common stock. (Round your answer to two decimal places.) A) 6.92% B) 1.92% C) 5.00% D) 7.44%
A major retailer wants to sell items as cheaply as possible while maintaining an attractive and enjoyable shopping atmosphere
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