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Curtis has an outside basis of $35,000 prior to receiving a property distribution from ABC Partners, GP, consisting of the following assets: Inside Asset Basis
Curtis has an outside basis of $35,000 prior to receiving a property distribution from ABC Partners, GP, consisting of the following assets: Inside Asset Basis FMV Cash 10,000 10,000 Inventory 5,000 10,000 Equipment 22,000 20,000 Land 14,000 20,000 What is Curtis's basis in the Equipment after the distribution
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