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for the tax year, Ashes to Dust partnership,reported a $75,000 ordinary loss and a $29,000 increase in recourse liabilities for which the partnership are liable.
for the tax year, Ashes to Dust partnership,reported a $75,000 ordinary loss and a $29,000 increase in recourse liabilities for which the partnership are liable. Dustin, a 50% partner , had an adjusted basis of $16,000 at the beginning of the year. What is Dustin's adjusted basis in Ashes to Dust at the ebd of the year?
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Accounting
Authors: Charles T. Horngren, Walter T. Harrison Jr., Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
9th Canadian Edition volume 2
013269008X, 978-0133122855, 133122859, 978-0132690089
