Mr. A formed LLC, he has Account Receivable worth $50,000 for
tax preparation fees, and an interest in a real estate partnership
used as collateral for a loan from Bank, The fair market value of
the real estate partnership interest is $500,000 and the loan is
for $200,000.
1. What is the basis of the LLC? Is it $250,000?
2. If his son works in this LLC and gets 50% of the shareholder
interest, Is it the basis for his...