Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps

تمرين 22

Jake has a Schedule C (that reports on the cash basis of accounting) with the following assets:
Jake contributes these assets to form AJ Partnership and receives a 50% interest. His basis in the partnership interest is:
A) $0.
B) $99,500.
C) $159,500.
D) $169,500.