Hamby transfers a capital asset in exchange for a one-half interest in Hartsville LLC. The asset has an adjusted basis to Hamby of $20,000 and a fair market value of $55,000.

Hamby has a $_ realized gain on the exchange. Hamby's basis for his LLC interest is $. The LLC's holding period for the capital asset carries over from Hamby . The LLC’s basis for the contributed property is $__.

Question

04-05-2021
Business

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Hamby transfers a capital asset in exchange for a one-half interest in Hartsville LLC. The asset has an adjusted basis to Hamby of $20,000 and a fair market value of $55,000.

Hamby has a $_ realized gain on the exchange. Hamby's basis for his LLC interest is $. The LLC's holding period for the capital asset carries over from Hamby . The LLC’s basis for the contributed property is $__.

Sagot :

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