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Camille and David are partners who share income and losses equally. Camille has an outside basis of $5,000 in her partnership interest, and David has
Camille and David are partners who share income and losses equally. Camille has an outside basis of $5,000 in her partnership interest, and David has an outside basis of $15,000 in his partnership interest. During the current year the partnership has gross income of $40,000 and expenses of $60,000. What are the tax results to Camille and David
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