Business, 10.07.2019 02:30 edailey7230

Partners g and h form the gh partnership, with g contributing $200,000 cash and h contributing some land with a basis of $600,000 and a fmv of $900,000, subject to a nonrecourse liability of $700,000. they agree to share profits and losses 60% to g and 40% to h. what is h’s share of the liability?

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Partners g and h form the gh partnership, with g contributing $200,000 cash and h contributing some...

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