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Tom is one of three equal partners in a partnership. Which of the following will increase his outside basis? a. charitable contributions made by the
Tom is one of three equal partners in a partnership. Which of the following will increase his outside basis? a. charitable contributions made by the partnership. b. the partners distributive share of the partnership losses. C. The partners distribute share of taxable and nontaxable income of the partnership. Distribution to a partner of either cash or partnership property valued at the adjusted basis of the property.
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