Question: Identify the tax issue or issues suggested by the following

Identify the tax issue or issues suggested by the following situations and state each issue in the form of a question:
Mr. Yang just sold his entire 20 percent interest in DK Partnership to an unrelated purchaser for $7,500. Mr. Yang’s adjusted basis in the interest was zero, and he had a $12,000 carryforward of DK loss.

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  • CreatedNovember 03, 2015
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