Estate Tax (2,000,000) Sales Tax/ Other Payables (3.178.989) Liability for final payment on Picasso (20.761,775) 50 Art - Includes Art held in Friends Ventures LLC 2.237.825.875 Cash from Sale of 50% interests in Art & Friends Ventures LLC 59.250,000 Proceeds from Additional Art Sold 1 132 390 167 Total Ar

e art investment yet Friends LLC is accrual basis? 2) insurance expense should be added to basis each year not expensed as amount is not deductible Friends Ventures LLC 1) why is accounting method accrual basis? what were accrued expenses at end of 2014 that were paid in 2015 2 schedule B-1 - remove . from Leon D.

e art investment yet Friends LLC is accrual basis? 2) insurance expense should be added to basis each year not expensed as amount is not deductible Friends Ventures LLC I) why is accounting method accrual basis? what were accrued expenses at end of 2014 that were paid in 2015 2 schedule B-1 - remove . from Leon D.

e art investment yet Friends LLC is accrual basis? 2) insurance expense should be added to basis each year not expensed as amount is not deductible Friends Ventures LLC I) why is accounting method accrual basis? what were accrued expenses at end of 2014 that were paid in 2015 2) what is intangible asset on balance

e art investment yet Friends LLC is accrual basis? 2) insurance expense should be added to basis each year not expensed as amount is not deductible Friends Ventures LLC I) why is accounting method accrual basis? what were accrued expenses at end of 2014 that were paid in 2015 2 schedule B-1 - remove . from Leon D.

e art investment yet Friends LLC is accrual basis? 2) insurance expense should be added to basis each year not expensed as amount is not deductible Friends Ventures LLC I) why is accounting method accrual basis? what were accrued expenses at end of 2014 that were paid in 2015 2 schedule B-1 - remove . from Leon D.

ey, I was concerned about the length of time it takes Bank of America to open a new bank account for an entity. We had a major issue when we set up Friends Ventures LLC (which bought the Schwitters) because it took many, many days for the bank to open the account, so our payment to Christie's was very delayed. Alan

e art investment yet Friends LLC is accrual basis? 2) insurance expense should be added to basis each year not expensed as amount is not deductible Friends Ventures LLC 1) why is accounting method accrual basis? what were accrued expenses at end of 2014 that were paid in 2015 2 schedule B-I - remove . from Leon D.

From: jeffrey E. <[email protected]> Sent: Monday, April 11, 2016 11:18 AM To: Thomas Turrin Subject: Fwd: Friends Ventures LLC intanglible? did you review? Forwarded messa e From: Richard Josli Date: Fri, Apr =, 2016 at 5:34 PM Subject: Friends Ventures LLC To: "Jeffr

From: Richard Joslin Sent: Friday, April 8, 2016 9:35 PM To: jeffrey E.; Richard Kahn Cc: Brad Wechsler; John Castrucci Subject: Friends Ventures LLC Attachments: FRIENDS VENT LLC JEE APR 8 2016.pdf Attached is tax return FY 2015 for Friends Ventures =LC Password to follow in separate email. R

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vestment yet Fr=ends LLC is accrual basis? 2) insurance expense should be added =o basis each year not expensed as amount is not deductible <=div> Friends Ventures LLC 1) why is=accounting method accrual basis? what were accrued expenses at end of 2014=that were paid in 2015 2 schedule B-1 - remove . from Leon D.