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On June 1 of the current year, Monte Scott received a 1 0 % interest in the capital of Eve's World, a partnership, for services
On June of the current year, Monte Scott received a interest in the capital of Eve's World, a partnership, for services rendered. Eve's net assets at June had a basis of $ and a fair market value of $ What income must Monte Scott include on his current year tax return for the partnership interest transferred to him by the other partners?
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