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What would be sally tax basis in the partnership interest

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John holds 10 percent interest in SS Partnership for past three years. His basis in the partnership is $200,000 which includes a $100,000 share of nonrecourse debt that is allocated to him.

Question 1: If John sells his interest in the partnership to Sally for $400,000, what would be Sally's tax basis in the partnership interest?

Option a. $200,000

Option b. $300,000

Option c. $400,000

Option d. $500,000

Reference no: EM132588972

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