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Kims adjusted basis for her partnership interest at year end

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Kim and Nicole form the General Partnership. Kim contributed $20,000 cash in exchange for her 50 percent partnership interest. During the first year of partnership operations, the partnership reported net taxable income of $10,000, Kim withdrew $8,000 cash from the partnership, and the partnership took out an $18,000 loan on the last day of the year. Kim's adjusted basis for her partnership interest at year end is?

Reference no: EM132317398

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