R is an equal partner in the RST partnership. The partnership has made the election...
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R is an equal partner in the RST partnership. The partnership has made the election under IRC section 745. R sells her interest to U for $114000 when her basis was $88000 and the assets of the partnership were as followed. Basis. Market Cash. $22500. $22500 Accounts receivable. $45000. $45000 Inventory. $ 90000. $94000 Land. $90000. $180000 Total. $247500. $342 000 What is Us basis in the partnership inventory? A $30000 B $31500 C $63000 D $90000
Basis. Market
Cash. $22500. $22500
Accounts receivable. $45000. $45000
Inventory. $ 90000. $94000
Land. $90000. $180000
Total. $247500. $342 000
What is Us basis in the partnership inventory?
A $30000
B $31500
C $63000
D $90000
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