Miss Natalia

(14)

$20/per page/Negotiable

About Miss Natalia

Levels Tought:
Elementary,High School,College,University

Expertise:
Accounting,Business & Finance See all
Accounting,Business & Finance,Calculus,Computer Science,Environmental science,Health & Medical Hide all
Teaching Since: Apr 2017
Last Sign in: 362 Weeks Ago, 5 Days Ago
Questions Answered: 6064
Tutorials Posted: 6070

Education

  • Doctor of Education in Educational Leadership with a Specialization in Educational Technology
    Phoniex University
    Oct-1999 - Nov-2005

Experience

  • HR Executive
    a21, Inc.
    Nov-1998 - Dec-2005

Category > Accounting Posted 23 Jun 2017 My Price 5.00

what is the tax effect of the distribution to Melody and MIP?

At the beginning of the tax year, Melody’s basis in the MIP LLC was $60,000, including her $40,000 share of the LLC’s liabilities. At the end of the year, MIP distributed to Melody a cash amount of $10,000 and inventory (basis of $6,000, fair market value of $10,000). In addition, MIP repaid all of its liabilities by the end of the year.

 

a.If this is a proportionate non-liquidating distribution, what is the tax effect of the distribution to Melody and MIP? Respond to at least two of your classmates’ posts.

 

b.After the distribution, what is Melody’s basis in the inventory and in her MIP interest?

 

c.Would your answers to (a) change if this had been a proportionate liquidating distribution? Explain.

 

Answers

Miss Natalia
(14)
Status NEW Posted 23 Jun 2017 07:06 AM My Price 5.00

Sol-----------uti-----------ons----------- fi-----------le ----------- He-----------llo----------- Si-----------r/M-----------ada-----------m -----------Tha-----------nk -----------you----------- fo-----------r y-----------our----------- in-----------ter-----------est----------- an-----------d b-----------uyi-----------ng -----------my -----------pos-----------ted----------- so-----------lut-----------ion-----------. P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I-----------

Not Rated(0)