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Dave and Darren form Pizza Guys (PG) general partnership. Each person receives an equal interest in the newly created partnership. Dave contributes $10,000 of cash

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Dave and Darren form Pizza Guys ("PG") general partnership. Each person receives an equal interest in the newly created partnership. Dave contributes $10,000 of cash and land with an FMV of $55,000. His basis in the land is $20,000. Darren contributes equipment with an FMV of $12,000 and a building with an FMV of $33,000. His basis in the equipment is $8,000, and his basis in the building is $20,000. Use the following format for all answers: $1,234 1. How much is Dave's initial basis in the partnership? 2. How much is the aggregate inside basis of PG's assets after the contributions

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