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Business, 16.04.2020 00:23 Edwardwall
Partner Beth has a basis of $10,000 in a partnership at the beginning of the year. She receives $6,000 in cash distributions, her distributive share of income is $5,000, and she receives a land distribution with a basis of $8,000 (FMV $20,000). What is Beth’s partnership interest basis at the end of the year?
a. $0
b. $1,000
c. $9,000
d. $10,000
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Partner Beth has a basis of $10,000 in a partnership at the beginning of the year. She receives $6,0...
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