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Assume the G&L partnership forms with cash contributions of $ 1 0 0 , 0 0 0 each from G and L . The partnership
Assume the G&L partnership forms with cash contributions of $ each from G and L The partnership then borrows $ on a nonrecourse loan and purchases a building on leased land for $ Assume that the building is rented and that annual cash revenues equal cash expenses but depreciation of $ per year results in a $ annual loss. All items of income, loss, and deduction are shared equally.
When is the first year that the partnership will record Partnership Minimum Gain PMG
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