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Which of the following statements regarding the rationale for adjusting a partner's basis is false? To prevent partners from being double taxed when they sell
Which of the following statements regarding the rationale for adjusting a partner's basis is false? To prevent partners from being double taxed when they sell their partnership interests To ensure that partnership tax-exempt income is not ultimately taxed To prevent partners from being double taxed when they receive cash distributions To ensure that partnership non-deductible expenses are never deductible None of these rationales are false
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