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Lindsey contributed investment land having an $18,000 basis and a $22,000 FMV along with $4,000 of cash to the LK Partnership when it was formed.
Lindsey contributed investment land having an $18,000 basis and a $22,000 FMV along with $4,000 of cash to the LK Partnership when it was formed. Two years later, the partnership distributed the land ...
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