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Tax Basis in Partnership Interest Assignment | Homework For You

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May 30th, 2020

Last December 31, Ramon sold the 10 percent interest in the Del Sol Partnership that he had held for two years to Garrett for $410,000. Prior to selling his interest, Ramon’s basis in Del Sol was $200,000 which included a $105,000 share of nonrecourse debt allocated to him. What is Garrett’s tax basis in his partnership interest? Get Finance homework help todayHomework For You

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