Unformatted text preview: $4,500. b) Bob basis in the partnership interest is $16,500 c) Rob basis in the partnership interest is $21,500 Tax Return Problem 1 Submitted under separate attachment Chapter 11: Problem 15 a) CDE Partnership would not recognize gain or loss would be $0. b) Dan recognized gain or loss would be $0. c) Inventory $40,000; land $35,000; partnership interest $35,000....
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- Spring '10
- Accounting, Taxation in the United States, Partnership taxation, ordinary partnership income