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Business, 17.12.2019 00:31 SethSimunek

Larry’s tax basis in his partnership interest at the beginning of the year was $27,500. if his share of the partnership debt increased by $13,000 during the year and his share of partnership income for the year is $6,500, what is his tax basis in his partnership interest at the end of the year?

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Larry’s tax basis in his partnership interest at the beginning of the year was $27,500. if his share...
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