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  3. a contributes $100,000 cash to the ab partnership

A contributes $100,000 cash to the AB partnership and B contributes a building with an...

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Accounting

A contributes $100,000 cash to the AB partnership and B contributes a building with an adjusted basis of $50,000 and a fair market value of $100,000. Unless otherwise stated, apply the traditional method with respect to all contributed property.

NEED HELP ON E, F & G.

(a) If the building is depreciable, has a 10-year remaining recovery period and is depreciated under the straight-line method, how much tax and book depreciation will be allocated to each partner?

(c) Same as (a), above, except that Bs basis in building is $40,000?

(e) If in (a), above, the building is sold for $90,000 after it has been held (and depreciated) by the partnership for two years, how must the partnership allocate the tax gain on the sale?

(f) Same as (e), above except the building is sold for $60,000?

(g) What result in (c), above, if the recovery period for the building is 20 years and the partnership elects the remedial method of allocation?

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