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M and N form MN LLC. M and N share profits and losses equally. Ms initial basis in her LLC interest is $10,000. Ns initial
M and N form MN LLC. M and N share profits and losses equally. Ms initial basis in her LLC interest is $10,000. Ns initial basis is $20,000. The LLC has no liabilities at the beginning or end of the year. During the current year, the LLC experienced the following:
- What is Ms tax basis (outside basis) in her LLC interest at the end of the year?
- What is Ns tax basis (outside basis) in his LLC interest at the end of the year?
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