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Daniel contributed property with an adjusted basis of $40,000 and a fair market value of $65,000 to DAT Partnership for a 40 percent interest in
Daniel contributed property with an adjusted basis of $40,000 and a fair market value of $65,000 to DAT Partnership for a 40 percent interest in profits and losses and capital.There was a nonrecourse liability of $38,000 that encumbered the property.
If the contributed property is depreciable property and the tax depreciation for 2018 is $6,000 (book depreciation is $9,000), how much of the depreciation is allocated to Daniel under the traditional method with a curative effect?
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