Question: George pays $ 1 0 , 0 0 0 for a 2 0 % interest in a general partnership, which has recourse liabilities of $

George pays $

10, 000

for a

20 %

interest in a general partnership, which has recourse liabilities of $

20, 000 .

The partners share the economic risk of loss from recourse liabilities in the same way they share partnership losses. George's basis in his partnership interest is

Select one:

.

10, 000 .

.

12, 000 .

.

14, 000 .

.

30, 000 .

George pays $ 1 0 , 0 0 0 for a 2 0 % interest in

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