[jicheng]

I am confused about the tax treatment of a partnership formation. If partner A contribute a property basis=100, FMV=200 and A receive cash 50 as boot, what is the basis and gain/loss? becker does not say about cash receive as boot in partnership.

Any one help?

[Skynet]

In a partnership formation, what is His belongs to Her, and what is Her belongs to Her.

The Tax is normally 50% because everything is split evenly among the two in the case of Divorce. That is unless she has a Really Good Divorce Lawyer, then she gets everything.

You don't wanna know where the Boot ends up.

AUD - 90
BEC - 78
FAR - 84
REG - 87

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - In Progress
Phase III : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase IV : Form the new Charlie's Angels with Megan Fox, Scarlett Johansson, & Gal Gadot
Phase V : TBD

BEC : 78
REG : 87
FAR : 84
AUD : 90

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - Initiated
Phase III : Bring back 8-Tracks
Phase IV : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase V : TBA

[Excel14]

Lol @ Skynet. You are too much…. 🙂

What do they call an accounting person, who only managed a 75 on all four parts of the CPA exam....you got it, CPA!!!

BEC (2/28/16) ----- 78
FAR (09/10/16)-----
AUD
REG

CIA, CGAP, CFE

[Author]

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