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Henrietta transfers cash of S her as a sole proprietor, $10,000) in exchange for a 40% profit and loss interest worth $100,000. 1. How much
Henrietta transfers cash of S her as a sole proprietor, $10,000) in exchange for a 40% profit and loss interest worth $100,000. 1. How much are Henrietta's realized and recognized gains? 2. What is the amount of Henrjetta's basis in her partnership interest? 3. What is the partnership's basis in the contributed equipment
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