1 Donna Purchased Dennis One Third Interest Of The Def Llc Which Is Taxed As A Partn 2411862
1. Donna purchased Dennis’ one-third interest of the DEF LLC (which is taxed as a partnership) for $125,000. In connection with Donna’s purchase, the LLC made a § 754 election. The DEF LLC uses the accrual method of accounting with respect to sales of inventory and the cash method with respect to the provision of […]