Raul contributes the following assets to a partnership for a 50% interest: Raul’s Basis FIMV Building $ 75 , 000 $ 125 , 00 Computer Equipment $ 72 , 000 $ 30 , 000 Total $ 100 , 000 $ 55 , 000 \begin{array}{lccc} & ext { Raul ' s Basis } & & ext { FIMV } \ ext { Building } & \$ 75,00 0 & & \$ 125,00 \ ext { Computer Equipment } & \$ 72,000 & & \$ 30,000 \ ext { Total } & \$ 100,00 0 & & \$ 55,000 \\hline\end{array} Building Computer Equipment Total Raul’s Basis $75 , 000 $72 , 000 $100 , 000 FIMV $125 , 00 $30 , 000 $55 , 000 What is Raul's basis in his partnership interest?A) $0.B) $50,000.C) $100,000.D) $155,000.

Question

Raul contributes the following assets to a partnership for a 50% interest:    Raul’s Basis   FIMV   Building  $ 75 , 000 $ 125 , 00  Computer Equipment  $ 72 , 000 $ 30 , 000  Total  $ 100 , 000 $ 55 , 000 \begin{array}{lccc}  &  	ext { Raul ' s Basis }  &   &  	ext { FIMV } \ 	ext { Building } &  \$ 75,00 0  &   &  \$ 125,00 \ 	ext { Computer Equipment } &  \$ 72,000  &   &  \$ 30,000 \ 	ext { Total } &  \$ 100,00 0  &   &  \$ 55,000 \\hline\end{array}  Building   Computer Equipment   Total  ​  Raul’s Basis  $75 , 000 $72 , 000 $100 , 000 ​ ​  FIMV  $125 , 00 $30 , 000 $55 , 000 ​ ​   What is Raul's basis in his partnership interest?A) $0.B) $50,000.C) $100,000.D) $155,000.

Priyanka Bassi · Accepted Answer

Final Answer : C, Explanation :  Raul's basis in his partnership interest is the value of the assets he contributes. The total value of the assets is $100,000, which means his basis in the partnership is also $100,000. Option A is incorrect because Raul has contributed assets to the partnership, so his basis cannot be $0. Option B is incorrect because the total value of the assets contributed is $100,000, not $50,000. Option D is incorrect because it is not provided how the value of $155,000 is determined.

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