How much gain or loss will the partnership recognize

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Question - Bill owns 52% of partnership ABC. He sells property to the partnership in which he has a basis of $375,000 for $250,000.

a. For federal income tax purposes, how much loss will Bill realize on the sale?

b. For federal income tax purposes, how much loss will B recognize on the sale?

c. If the partnership sells the property to an unrelated party, how much gain or loss will the partnership recognize for federal tax purposes third party based on the following amounts:

i. 200,000

ii. 300,000

iii. 400,000

Reference no: EM133037085

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