Merck Corporation, a different pharmaceutical company, claim…

Merck Corporation, a different pharmaceutical company, claimed a $3,200,000 research tax credit on its current year tax return. It also determined that it was more likely than not that the position would be sustained under audit. If it determines that $2,200,000 merits recognition as a tax benefit under FIN No. 48 rules, how much should become unrecognized? Use a positive value rounded to the nearest whole number. Use commas when relevant but no decimals or dollar signs.

Steve and Alex decide to form a partnership called Minecraft…

Steve and Alex decide to form a partnership called Minecraft Ltd. Both partners receive a 50% profits interest in the partnership. Ignoring answers and information in prior problems, assume that Steve and Alex have beginning outside basis in the partnership of $1,000,000 each before either considering doing any service for the partnership.If Steve decides to perform service for the partnership and asks for Alex to give him $200,000 of his capital interest as compensation for this service, how much of the $200,000 increase in capital interest is considered taxable income to Steve? Use a positive dollar value and round to the nearest whole number. Use commas when relevant but no decimals or dollar signs.

Steve and Alex decide to form a partnership called Minecraft…

Steve and Alex decide to form a partnership called Minecraft Ltd. Steve contributes a large building he had purchased 10 years before to the partnership for his partnership interest. The building has an adjusted basis of $1,220,000 and fair market value of $1,520,000. Alex contributes $1,400,000 in cash for his partnership interest. Both partners receive a 50% profits interest in the partnership.What is Steve’s basis in his partnership interest at formation? Use a positive value rounded to the nearest whole number. Use commas when relevant but no decimals or dollar signs.