The value assigned to noncash assets invested by partners in a limited liability partnership is the cost of the assets or the current fair value of the assets at the time of investment, whichever is lower.

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The value assigned to noncash assets invested by partners in a limited liability partnership is typically the agreed-upon value between the partners at the time of investment, which often reflects the current fair value of the assets.

The Value Assigned to Noncash Assets Invested by Partners in a Limited