please help I'm stuck 19. Alliwon recelyed a current...
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please help I'm stuck
19. Alliwon recelyed a current proportionate distribution consisting of partnership inventory with a basis of a. How much gain or loss must Allison recognize because of this distribution? b. What basis will Allison take in the inventory, and what will her basis be in the Partnership? c. How would the answer change if Allison's pre-distribution basis has been $29,000 ? d. What will be the tax consequences to Allison if she sells the inventory for $30,000 Within the first year after distribution (using the basis numbers from item b above)? Answer 20. Sok has operated her business as a sole proprietorship for several years, and she is now interested in raising capital for expansion. She is considering forming either a C corporation or Partnership. Describe four main differences between a C corporation and a Partnership
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