Lindy owns a 70% interest in the capital and profits of Royalty Inc a partnership. Jacob owns

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Lindy owns a 70% interest in the capital and profits of Royalty Inc a partnership. Jacob owns the other 30%. Her basis in her partnership interest is 25,000. In a proportionate distribution, Lindy receive land with a inside basis of 41,000 and for market value of 70,000. The partnership is not liquidating what is Linda's remaining outside bases in rural to ink after receiving this distribution? A. Some other amount. B. 0. C. 25,000

Posted Date: May 19, 2024 03:17 AM

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Lindy owns a 70% interest in the capital and profits of Royalty Inc a partnership. Jacob owns

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