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Please answer in Excel showing work. Hank transfers cash of $70,000 and furniture with a fair value of $20,000 (with a basis of $17,000 from

Please answer in Excel showing work.
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Hank transfers cash of $70,000 and furniture with a fair value of $20,000 (with a basis of $17,000 from the sole proprietorship) in exchange for a 30% profit and loss partnership interest worth $90,000. a. How much is Hank's realized and recognized gain? b. What is the amount of Hank's basis in the partnership interest? c. What is the partnership's basis in the contributed future

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