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On a partner's Schedule K-1, Item L: A. Is required when Schedule B, line 4 is checked yes. B. Is completed only when the partnership

On a partner's Schedule K-1, Item L:

A. Is required when Schedule B, line 4 is checked "yes."

B. Is completed only when the partnership uses GAAP accounting.

C. Shows any increase in the partner's account.

D. Reports the partner's basis in the partnership.

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