Question: (5) Your textbook cites a partnership interest as one example of an intangible asset that is not amortizable for FIT purposes. Briefly explain what the

(5) Your textbook cites a partnership interest as one example of

(5) Your textbook cites a partnership interest as one example of an intangible asset that is not amortizable for FIT purposes. Briefly explain what the proper treatment of your tax basis in a partnership interest is instead. *** *** As I recall, we've gone over this in class more than once already

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