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Uzo's beginning outside basis in By My Side Partnership was $24,000 this year. In May, she contributed a camera with an adjusted basis of $1,000
Uzo's beginning outside basis in By My Side Partnership was $24,000 this year. In May, she contributed a camera with an adjusted basis of $1,000 and a fair market value of $1,250. When she purchased the camera, she paid $2,000. What was Uzo's ending outside basis in the partnership? $24,000 $25,000 $25,250 $26,000
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