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Check my work 10 ! Required information [The following information applies to the questions displayed below.) Part 3 of 4 Travis and Alix Weber are
Check my work 10 ! Required information [The following information applies to the questions displayed below.) Part 3 of 4 Travis and Alix Weber are equal partners in the Tralix Partnership, which does not have a 8754 election in place. Alix sells one-half of her interest (25 percent) to Michael Tomei for $35,000 cash. Just before the sale, Alix's basis in her entire partnership interest is $81,000, including her $35,000 share of the partnership liabilities. Tralix's assets on the sale date are as follows: 3.44 points Skipped Cash Inventory Land held for investment Totals Tax Basis $ 44,500 35,000 82,500 $ 162,000 FMV $ 44,500 110,000 52,000 $ 206,500 eBook Print References c. What is Michael's basis in his partnership interest? Basis
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