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Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993 Exercise 11
Cindy, Casey, and Kara each invested $30,000 in a real estate venture. The partnership borrowed $200,000 and purchased a warehouse for $290,000. The note was secured by the building; there was no personal recourse against the partners. What is each partner's beginning at-risk amount in the venture?
Explanation
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Initial basis: It is the amount paid to ...
Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
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