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What is his tax basis in his partnership interest

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Reference no: EM132696374

Question - Larry's tax basis in his partnership interest at the beginning of the year was $27,500. If his share of the partnership debt increased by $13,000 during the year and his share of partnership income for the year is $6,500, what is his tax basis in his partnership interest at the end of the year?

Reference no: EM132696374

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