Partner A is a 25% partner, and has a basis in her interest and capital account balance
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Partner A is a 25% partner, and has a basis in her interest and capital account balance of $200,000. She is contributes some land (FMV = $100,000, basis = $60,000, book value = $60,000, liability attached = $40,000) by the partnership. How much are her book capital account and basis afterward?
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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