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Question 22 3 pts Javonte sold his 40% interest in the JP Partnership to Ashley for $500,000. The inside basis of all the partnership assets
Question 22 3 pts Javonte sold his 40% interest in the JP Partnership to Ashley for $500,000. The inside basis of all the partnership assets was $800,000 at the time of the sale. If the partnership makes a 5754 election, it will record a step-up in the basis of the partnership assets in the amount of: $120,000 $180,000 $600,000 $300,000
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