Question: Jorge is a general partner in a partnership with three total partners, including two limited partners. Jorge's outside basis at the beginning of the year
Jorge is a general partner in a partnership with three total partners, including two limited partners. Jorge's outside basis at the beginning of the year was $6,000. The partnership took out a $10,000 loan. If this was the only potential change to Jorge's outside basis during the year, what is his outside basis at the end of the year?
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To calculate Jorges outside basis at the end of the year we need to take into account any increases ... View full answer
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