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Mr. Yang just sold his entire 20 percent interest in DK Partnership to an unrelated purchaser for $7,500. Mr. Yang's adjusted basis in the interest

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Mr. Yang just sold his entire 20 percent interest in DK Partnership to an unrelated purchaser for $7,500. Mr. Yang's adjusted basis in the interest was zero, and he had a $ 12,000 carryforward of DK loss . LO 10-7

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