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QUESTION
Henrietta transfers cash of $281,600 and equipment with a fair market value of $84,480 (basis to her as a sole proprietor, $33,792) in exchange for a...
Henrietta transfers cash of $281,600 and equipment with a fair market value of $84,480 (basis to her as a sole proprietor, $33,792) in exchange for a 40% profit and loss interest worth $366,080.
If an amount is zero, enter "0".
a. Henrietta has a realized gain of $ and recognizes a gain of $.
b. Henrietta's basis in the partnership interest is $.
c. The partnership's basis in the equipment is $
