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22) Shua owns a 30% profit and loss interest in the ABC LLC, and his basis in the interest is $30,000 excluding his share of

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22) Shua owns a 30% profit and loss interest in the ABC LLC, and his basis in the interest is $30,000 excluding his share of the LLC's liabilities. Shua guarantees $40,000 LLC debt. Remaining liabilities (not guaranteed by any of the LLC members) are $100,000. Shua's basis in the LLC is $100,000. a) True b) False

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