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A,B and C are equal partners in the ABC partnership. On January 1st,2000,A s outside basis is $250 and ABC 's balance sheet (including FMVs)
A,B and C are equal partners in the ABC partnership. On January 1st,2000,A s outside basis is $250 and ABC 's balance sheet (including FMVs) is as follows: What are the tax consequences to A if A were to sell her interest to P for $500 cash? Assume that ABC purchased the machine three years ago $120, and that $120 in depreciation has been taken on the building since its acquisition five years ago
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