Jonathan owns property (basis of $200,000, value of $300,000). He plans to contribute the property...
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Accounting
Jonathan owns property (basis of $200,000, value of $300,000). He plans to contribute the property to the JJG Partnership in exchange for a 25% interest.
a. What issues arise if the partnership distributes $150,000 of cash to Jonathan three months after the property contribution?
b. How can the risk of adverse tax consequences be minimized?
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