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4-6. LO.4 Franco owns a 60% interest in the Dulera LLC.

/in /by

4-6. LO.4 Franco owns a 60% interest in the Dulera LLC. On December 31 of the current tax year, his basis in the

LLC interest is $128,000. The fair market value of the interest is $140,000. Dulera then distributes to Franco $30,000 cash and equipment with an adjusted basis of $5,000 and a fair market value of $8,000.

   a. Compute Franco’s basis in Dulera after the distribution.

   b. Compute Franco’s basis in the equipment that he received from Dulera.

 
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