51. Carol and her husband own 35 percent each of a land development partnership. Carol owns a...

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51. Carol and her husband own 35 percent each of a land development partnership.

Carol owns a piece of land purchased six years ago for $60,000 that has been declining in value. The partnership wants to buy the land for development but is only willing to pay $40,000.

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Taxation For Decision Makers

ISBN: 9781118091555

2012 Edition

Authors: Shirley Dennis Escoffier

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