Assume a partnership does not have a Section 754 election in effect, and does not make one.
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Assume a partnership does not have a Section 754 election in effect, and does not make one. If a new partner purchases his/her partnership interest from another partner, what will be his/her share of the partnership's inside basis in its assets?
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Related Book For
CCH Federal Taxation 2019 Comprehensive Topics
ISBN: 9780808049081
2019 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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