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Jeremy sold his 4 0 % interest in the HIJ Partnership to Ashley for $ 4 0 0 , 0 0 0 . The inside
Jeremy sold his interest in the HIJ Partnership to Ashley for $ The inside basis of all partnership assets was $ at the time of the sale. If the partnership makes a election, it will record a $ stepup in the basis of the partnership assets, and the stepup will be attributed solely to Ashley.
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