, can someone me with this one ? Transcribed Image Text: Exercise 11-13 (Algorithmic) (LO. 3) When Bruno’s basis in his LLC interest is $283,800,
, can someone me with this one ? Transcribed Image Text: Exercise 11-13 (Algorithmic) (LO. 3)
When Bruno’s basis in his LLC interest is $283,800, he receives
cash of $113,520, a proportionate share of inventory, and land in
a distribution that liquidates both the LLC and his entire LLC
interest. The inventory has a basis to the LLC of $70,950 and a
fair market value of $90,816. The land’s basis is $127,710, and
the fair market value is $113,520. How much gain or loss does
Bruno recognize, and what is his basis in the inventory and land
received in the distribution?
If an amount is zero, enter “0”.
Bruno recognizes
of $
Bruno’s basis in the inventory is $
and his basis
in the land is $
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