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Business, 01.04.2020 20:28 lakinbacon4

Eddie contributed $60,000 cash to Howling Partnership in exchange for a 50% partnership interest. Howling immediately borrowed $50,000 of debt that Eddie and the other partners had to guarantee personally based on their initial ownership interests. What is Eddie's tax basis in Howling

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Eddie contributed $60,000 cash to Howling Partnership in exchange for a 50% partnership interest. Ho...
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