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Lucy, Henry, and Peter formed the LHP general partnership as equal partners. Lucy contributed $12,000 cash and property with an adjusted basis of $19,000

 

Lucy, Henry, and Peter formed the LHP general partnership as equal partners. Lucy contributed $12,000 cash and property with an adjusted basis of $19,000 and a fair market value (FMV) of $27,000. The partnership had $69,000 in ordinary income for the year. What is Lucy's ending tax-basis capital account?

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