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What would be Sally tax basis in the partnership interest

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Question - 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.

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

a. $200,000

b. $300,000

c. $400,000

d. $500,000

Reference no: EM132589056

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