Question: True or false. M and G are equal partners. On January 1, 2009, each had an adjusted basis in the partnership of $10,000. During 2009,

True or false. M and G are equal partners. On January 1, 2009, each had an adjusted basis in the partnership of $10,000. During 2009, the partnership borrowed $15,000, for which the partners are liable, and had an operating loss for the year of $20,000. Each partner will have a adjusted basis of $15,000

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