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Required information [The following information applies to the questions displayed below.] Melissa, Nicole, and Miguel are equal partners in the Opto Partnership (a calendar-year-end entity).
Required information [The following information applies to the questions displayed below.] Melissa, Nicole, and Miguel are equal partners in the Opto Partnership (a calendar-year-end entity). Melissa decides she wants to exit the partnership and receives a proportionate distribution to liquidate her partnership interest on January 1. The partnership has no liabilities and holds the following assets as of January 1 : Melissa receives one-third of each of the partnership assets. She has a basis in her partnership interest of $25,390. Note: Leave no answer blank. Enter zero if applicable. b. What is Melissa's basis in the distributed assets? Answer is complete but not entirely correct
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