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Computing partners recognized gain or loss
Because the inside basis is greater than the outside basis, the remaining outside basis turns 0.
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How is Tax basis calculated; increases and decreases? GAAP?
259522 Determining basis and adjusting events Please help answer the following questions.
How is basis determined?
What events can adjust basis up or down?
How does tax basis differ from GAAP accounting basis? How is basis determined?
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Accrual and cash basis accounting.
(b) Why would politicians prefer the cash basis over the accrual basis? (a) What is the difference between accrual-basis accounting and cash-basis accounting?
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Partnerships-Distributions, sales, and Exchanges
= 25,000-20000=5000
Question b
Remaining basis: basis before distribution-his basis on the distribution=20,000-20000=0
Question c
Compute Mickey's basis before distribution
Net income/ 3 = 30,000/3 = 10,000
New basis = 10,000+20,000=30,000
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Accounts Payable
180857 Accounts payable If accounts payable increase during a period, does that mean the expenses on accrual basis are less than the expense cash basis or would the expenses on accrual basis be the same as the expense on a cash basis?
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Basis of S corporation Shareholder
In a partnership, there are two basis called the inside basis and the outside basis (www.macymorris.com). The inside basis covers the fact that the partnership tax records compute for each partner.
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Partnership Basis vs Stock Basis in S-Corps
430898 Partner's basis: differences to inside and outside basis in an S Corporation As with S corporations, we track a partner's basis in his or her partnership interest (otherwise known as the outside basis) as a measurement of the amount of post-tax
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This post addresses multiple partnership & S Corp questions.
. $0 gain; $14,000 basis.
c. $10,000 gain; $0 basis.
d. $10,000 loss; $0 basis.
e. $10,000 gain; $12,000 basis.
6. Beginning in 2009, the AAA of Amit, Inc., an S corporation, has a balance of $722,000.
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Distinguish between the accrual basis and the cash basis of
228176 Distinguish between the accrual basis and the cash basis of accounting. Distinguish between the accrual basis and the cash basis of accounting. Distinguish between the accrual basis and the cash basis of accounting.
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Difference between Cash Basis and Accrual Basis of Accounting
221784 Difference between Cash Basis and Accrual Basis of Accounting Explain the difference between the cash basis and accrual basis of accounting?
When would you use the cash basis? Accrual basis?
Which one is better? Why?