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aimtobeacpa
Major Contributor

Joined: 10 Dec 2009
Online Status: Offline
Posts: 657

Posted: 08 May 2011 at 23:52 \| IP Logged

Thanks a lot...

__________________
BEC-74,82(lost credit),78
FAR-67,80
AUD-75
REG-68,72,79

perniva
Contributor

Joined: 05 Sep 2011
Location: United States
Online Status: Offline
Posts: 55

Posted: 29 Dec 2011 at 13:34 \| IP Logged

I'm going to give this thread new life in hopes of maybe simplifying the concept a bit. Again, maybe.

Ptner AB 75,000 (includes 30,000 of the 90,000 liability on the asset)

At distribution of the asset:

75,000 AB of Ptner + 60,000 New Liabilities assumed = 135,000 AB of Ptner. The new liabilities assumed follows the same concept as liabilities assumed at the time a brand new partnership is formed.

135,000 Ptner basis - 120,000 AB of Asset received = 15,000 remaining basis of the partner

__________________
FAR 05/29/2011 #82
AUD 08/31/2011 #86
REG 11/29/2011 #72
REG 01/17/2012 #89
BEC 02/29/2012 #75

Becker 2011
TEXAS

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