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XY Partnership has the following assets and liabilities at year -end. The book basis and tax basis are the same amount . Assets Machine basis

XY Partnership has the following assets and liabilities at year -end. The book basis and tax basis are the same amount . Assets Machine basis $10,000 Value $5000, Building Basis $80,000 Value $82,000 Note 1 Basis $3,000 Value $3,000 Note 2 Basis $90,000 /Value $90,000

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