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To transfer a building $90,000 market value,$40,000 basis,plus $60,000 no recourse debt on the building to a partnership in exchanges for a 30% capital interest
To transfer a building $90,000 market value,$40,000 basis,plus $60,000 no recourse debt on the building to a partnership in exchanges for a 30% capital interest valued at $30,000.if t retains personal liability for the debt,what is T basis in his partnership interest
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