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Which of the following statements regarding a partner's basis adjustments is true? O A partner's basis may never be reduced below zero. OA partner
Which of the following statements regarding a partner's basis adjustments is true? O A partner's basis may never be reduced below zero. OA partner must adjust his basis for ordinary income (loss) but not for separately-stated items A partnership fine or penalty does affect a partner's basis O Relief of partnership debt increases a partner's tax basis
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