Answer:
$1,000
Explanation:
Calculation for Kyle's outside basis immediately after the contribution
Since the Liability of the amount of $22,500 was distributed among the three partners which makes each of one of them to have a liability of
the amount of $7,500 calculated as: ($22,500/3 partners ), that means that Kyle will have a debt relief of the amount of $15,000 calculated as (7,500 * 2 partners)
Hence,
Kyle's outside basis= Asset contributed - Debt relief amount
Kyle's outside basis=16,000 -15,000
Kyle's Outside basis= $1,000
Therefore Kyle's outside basis immediately after the contribution will be $1,000
