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If someone contributed land having a $160,000 Fair Market Value and $180,000 Adjusted Basis for her 60% partner interest, what would be the tax consiquences
If someone contributed land having a $160,000 Fair Market Value and $180,000 Adjusted Basis for her 60% partner interest, what would be the tax consiquences if she sold her interest 10 years later to someone outside the partnership for $160,000.
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