6. When a partners share of partnership liabilities increases, that partners basis in the partnership interest: a.
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6. When a partner’s share of partnership liabilities increases, that partner’s basis in the partnership interest:
a. Increases by the partner’s share of the liabilities.
b. Decreases by the partner’s share of the liabilities.
c. Decreases, but not to less than zero.
d. Is not affected.
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Related Book For
Essentials Of Taxation Individuals And Business Entities
ISBN: 233160
1st Edition
Authors: Nellen/Young/Raabe/Maloney
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