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Business, 19.06.2020 23:57 culbertchristi6111
Jackie contributed $60,000 in cash to a partnership for a 50% interest. This year, the partnership earned $200,000 ordinary business income, made a $20,000 contribution to the United Way, and distributed $25,000 cash to Jackie. Her tax basis in the partnership at year end is:
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Jackie contributed $60,000 in cash to a partnership for a 50% interest. This year, the partnership e...
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