Please help me with the following showing calculations:
Lemonade, LLC distributes property to Arlene, one of its members. At the time of the distribtutions, Arlene has an outside basis of $50,000. The FMV of the property is $90,000 and its inside tax basis to Lemonade is $70,000. this is a nonliquidiating distribution. What is Lemonade's recognized gain on the distribution?© BrainMass Inc. brainmass.com June 3, 2020, 10:46 pm ad1c9bdddf
The solution calculates the recognized gain for lemonade, LLC.