E and F form the equal general EF Partnership, with E contributing property with a basis of
Question:
E and F form the equal general EF Partnership, with E contributing property with a basis of $350,000 and a fair market value of $300,000, and F contributing property with a basis of $200,000, and a fair market value of $300,000. The partnership then borrowed $100,000. What is E’s basis in the partnership after these transactions?
a. $325,000.
b. $350,000.
c. $400,000.
d. $450,000.
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Related Book For 
Taxation Essentials Of LLCs And Partnerships
ISBN: 9781119722328
1st Edition
Authors: Larry Tunnell, Robert Ricketts
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