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A and B form the AB Partnership, where they share everything 50-50. A contributes a building ($800 FMV and $400 basis). The building is encumbered
A and B form the AB Partnership, where they share everything 50-50. A contributes a building ($800 FMV and $400 basis). The building is encumbered with a liability of $300 that the partnership assumes. B contributes $500 in cash. What is A's outside basis? $250 $550 $500 $800 $950 $400 $650
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