Question: Enter problem statement appropriate input type, and other instructions here. XYZ is a limited partnership Josie is the general partner and has a 60% Interest
Enter problem statement appropriate input type, and other instructions here. XYZ is a limited partnership Josie is the general partner and has a 60% Interest in partnership capital and profits. Eva is the limited partner and has a 40 % interest in captaland profile XYZ borrows $100,000 on a recourse is What is the impact of XYZ borrowing on the tax basis each partner has in their partnership Interes? OA Neither partners basis changes as a result of the borrowing OB. Josie's basis increases by 360,000, Eva's basis is unchanged OC. Josie' basis increases by $100,000 Eva's basis is unchanged OD. Josie's basis increases by 500,000: Eva's basis increases by $40,000
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