Assume the bases of A, B and C for their partnership interests are $40, $30...
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Assume the bases of A B and C for their partnership interests are $ $ and $ respectively. a ABC makes a cash distribution of $ to each partner, and also distributes an undivided onethird interest in the land to each partner. What is As Bs and Cs basis in the distributed land and what is their outside basis in their continuing interest in ABC?
Assume the bases of A B and C for their partnership interests are $ $ and $ respectively.
a ABC makes a cash distribution of $ to each partner, and also distributes an undivided onethird interest in the land to each partner. What is As Bs and Cs basis in the distributed land and what is their outside basis in their continuing interest in ABC?
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