i have an assignment done, just need you to add the missing
need it in 4-5 hrs max
This is what you are missing: Does the above transaction qualify for a tax-free exchange similar to Sec. 351 for corporations? If so, what code section contains the rule for tax-free exchanges for partnerships? Compute the partners’ basis in the units received in the exchange. Prepare a tax balance sheet for Plummet Company (assuming it is a partnership). Comment on the tax issues facing John and Jill in connection with withdrawing money from the partnership? Discuss the same options as in Module 2 and show the associated tax consequences
ive attached my work and also the initial instructions
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