When a partner's share of partnership liabilities increases, that partner's basis in the partnership interest: a. Increases
Question:
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 2019
ISBN: 9780357233290
1st Edition
Authors: William A Raabe, James C Young
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