Examlex
Jonathon owns a one-third interest in a liquidating partnership. Immediately before the liquidation, his basis in the partnership interest is $60,000. The partnership distributes cash of $32,000 and two parcels of land (each with a fair market value of $10,000) . Parcel A has a basis of $2,000 to the partnership and Parcel B has a basis of $6,000. Jonathon's basis in the two parcels of land is:
Acetyl CoA
A central metabolic molecule that signifies the convergence point of several metabolic pathways, crucial in energy production.
Chemiosmosis
Chemiosmosis is the movement of ions across a selectively permeable membrane, down their electrochemical gradient, fundamental in processes like ATP synthesis in cells.
Proton Gradient
A gradient formed by the difference in proton concentrations across a membrane, often used to generate ATP in cellular respiration and photosynthesis.
Mitochondrial Membrane
The membrane that encloses the mitochondrion, consisting of an outer membrane and an inner membrane with folds known as cristae, where energy production occurs.
Q7: Do the at-risk rules apply to partnerships,
Q40: The partner rather than the partnership) will
Q56: Technique for minimizing double taxation<br>A)Usually subject to
Q64: Meg has an adjusted basis of $150,000
Q70: Nicholas, a one-third partner, received a guaranteed
Q90: Regular tax rate<br>A)For the corporate taxpayer, taxed
Q98: Kunst, a U.S. corporation, generates $100,000 of
Q134: Cynthia's basis in her LLC interest was
Q139: On the formation of a partnership, when
Q146: Member's operating loss.<br>A)Increases stock basis of subsidiary<br>B)Decreases