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Dirk transferred depreciable property to the Frank Partnership for a one-half interest in the partnership. The property had an adjusted basis of $42,000 and a
Dirk transferred depreciable property to the Frank Partnership for a one-half interest in the partnership. The property had an adjusted basis of $42,000 and a FMV of $56,000. The property was subject to a $14,000 mortgage, which was assumed by the partnership.
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Fundamentals Of Taxation 2015
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
8th Edition
1259293092, 978-1259293122, 1259293122, 978-1259293092
