Business, 07.05.2020 14:57 AdoNice

Lola owns a one-half interest in the Lenax LLC. Her basis in this ownership interest is $22,000 on December 31, 2016, after accounting for the calendar year LLC’s 2016 operations. On that date, the LLC distributes $25,000 cash to Lola in a proportionate nonliquidating distribution. She recognizes a $ from this distribution.

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Lola owns a one-half interest in the Lenax LLC. Her basis in this ownership interest is $22,000 on D...

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