Sandra transfers a car with a fair market value of $600 and an adjusted basis...
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Accounting
Sandra transfers a car with a fair market value of $600 and an adjusted basis of $250 to the SAM partnership. She receives a capital account of $600 and a 10% profits interest in SAM. At the time of the transfer SAM had non-recourse liabilities of $1,000.
1) What is Sandras outside basis in SAM after the transfer?
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