If Casey's partnership basis is only $100,000 and Cherie's basis is $200,000,there is no way both Casey and Cherie can be equal partners at 50% each in the partnership.

Question

Quizplus · Accepted Answer

If both partners were equal at 50%, the total partnership basis would need to be $600,000 ($300,000 each). However, if Casey's basis is only $100,000, then their total basis would only be $300,000 if Cherie's basis was $200,000. Therefore, it is possible for them to be equal partners at 50%.

If Casey's Partnership Basis Is Only $100,000 and Cherie's Basis