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What is kim ending partnership basis

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Reference no: EM132186740

Question - Kim has a basis in her partnership interest of $13,400 when she receives a distribution from the partnership of $6,700 cash and equipment with a basis of $9,050 ($13,575 FMV).

a. How much gain or loss must Kim recognize on the distribution?

b. What is Kim's ending partnership basis?

c. What is Kim's basis in the equipment?

Reference no: EM132186740

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