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12 would like to purchase a partnership interest from T1. At the time of the purchase. T1's outside basis in the partnership interest is
12 would like to purchase a partnership interest from T1. At the time of the purchase. T1's outside basis in the partnership interest is $20,000, which includes $3,000 of liabilities of the partnership allocable to T1. Determine T2's initial outside basis in the partnership interest if he acquires it from T1 for $27,500 in cash. Type your answer.. Previous Next
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