Lola owns a one-half interest in the Lenax LLC. Her basis in this ownership interest is $22,000 on December 31, 2019, after accounting for the calendar year LLC's 2019 operations. On December 31, 2019, 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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