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Problem 13-50 (LO. 5) Jo and Velma are equal owners of the JV Partnership, with Jo investing $500,000 and Velma contributing land and a building
Problem 13-50 (LO. 5) Jo and Velma are equal owners of the JV Partnership, with Jo investing $500,000 and Velma contributing land and a building (adjusted basis of $125,000; fair market value of $500,000). In addition, the entity borrows $250,000 using recourse financing and $100,000 using nonrecourse financing a. Jo's outside basis is $ , and Velma's is $ b. Jo's at-risk basis is and Velma's is $
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