Question
A partnership interest was sold this year by Epsilon for $13,000. The adjusted cost base of the partnership interest was negative $2,000. Expenses of disposition
A partnership interest was sold this year by Epsilon for $13,000. The adjusted cost base of the partnership interest was negative $2,000. Expenses of disposition were $1,000. Which one of the following amounts represents the taxable capital gain realized on the sale?
a.$5,000
b.$6,000
c.$7,000
d.$8,000
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Equity Asset Valuation
Authors: Jerald E. Pinto, Elaine Henry, Thomas R. Robinson, John D. Stowe, Abby Cohen
2nd Edition
