leathe7596 leathe7596
  • 01-07-2020
  • Business
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Daniel acquires a 30 percent interest in the PPZ Partnership from Paolo, an existing partner, for $48,000 of cash. The PPZ Partnership has borrowed $19,000 of recourse liabilities as of the date Daniel bought the interest. What is Daniel's basis in his partnership interest

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aialeebell
aialeebell aialeebell
  • 01-07-2020
Daniel’s outside basis in his partnership Interest is $42, 000
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