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Your clients are expressing interest in forming a partnership to sell rare books through bookstores across the county. They are not aware of the complexities
Your clients are expressing interest in forming a partnership to sell rare books through bookstores across the county. They are not aware of the complexities concerning partnership tax. Chose two to three areas of partnership tax (e.g., basis, contributions, accounting periods, accounting methods, gain recognition and/or losses) and explain to your client how they may apply to their situation.
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