Elise Contributes Property Having a $60,000 FMV and a $25,000

question 1399

Essay

Elise contributes property having a $60,000 FMV and a $25,000 adjusted basis and also renders accounting services valued at $30,000 in exchange for an 80% interest in the capital and profits of the EEE partnership. Evan contributes a building with a $90,000 FMV, an adjusted basis of $55,000, and subject to a mortgage of $70,000 for a 20% interest in the capital and profits of the EEE partnership. The partnership assumes the mortgage.
a. What is each partner's respective basis in the partnership?
b. What are the income tax consequences of the contributions?
c. What is the partnership's basis in the assets transferred in by Elise and Evan?

Acknowledge the importance of evaluation in the implementation phase for accountability.

Grasp the significance of establishing primary goals in the planning step of the planned-change process.

Understand the ethics and processes involved in ending the worker-client relationship.

Describe the three major features of the Generalist Intervention Model (GIM).

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Definitions:

Environmental Factors

External elements such as economic, political, social, and physical conditions that influence individuals or organizations.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing their behaviors and attitudes.

Situational Factors

External influences that can impact an individual's behavior or performance, such as environmental conditions, social pressures, or task characteristics.

Self-esteem

An individual's sense of their own value and worth.