Question: please help A,B and C are equal partners in the ABC partnership. On January 1n,2000,A 's outside basis is $250 and ABC 's balance sheet
A,B and C are equal partners in the ABC partnership. On January 1n,2000,A 's outside basis is $250 and ABC 's balance sheet (Including FMVs) is as follows: What are the tax consequences to A if A were to sell her interest to P for $00 cash? Assume that ABC purchased the machine three years ago $120, and that $120 in depreciation has been taken on the building since its acquisition five years ago
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