What is D basis in this newly acquired partnership interest

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Question - On July 4 of the current year, Mr. D received a 20% interest in the capital and profits of Cassady Company, a partnership, for services rendered. Cassady's net assets at July 4 had a basis of $200,000 and a FMV of $300,000. What is Mr. D's basis in this newly acquired partnership interest?

Reference no: EM132963365

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