schirallicpa Posted May 5, 2008 Report Share Posted May 5, 2008 Partner #1 in LLC holding 50% interest and basis of 26469 sells his entire interest to partner #2's wife for $500 on Dec 31, 2006. I do not do tax work for 1st partner. I do tax work for 2nd partner and new (wife) partner. Can it be that simple that she has new basis of $500, and I roll on? Quote Link to comment Share on other sites More sharing options...
michaelmars Posted May 5, 2008 Report Share Posted May 5, 2008 ssssssh, it is and now you can charge $1000 for the tax basis calculation! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.