Chapter 14 Explantion - 1 Explanation If contributed property is subject to a debt or if a partner's liabilities are assumed by the partnership the

Chapter 14 Explantion - 1 Explanation If contributed...

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FFA EA Book Reference: CH 14 Partnerships Subsection: Partnerships Subject: Basis of partner's interest 2. Explanation: Ben's ratable share of the partnership's interest income for 2011 is not affected by the sale of part of his partnership interest to another partner in 2012 (although his earnings for the 2012 year and FUTURE basis may be). His ratable share for the $12,000 interest income for 2011 is $6,000. Correct Answer: B FFA EA Book Reference: CH 14 Partnerships Subsection: Partnerships
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FFA EA Book Reference: CH 14 Partnerships Subsection: Partnerships Subject: Family partnerships FFA EA Book Reference: CH 14 Partnerships Subsection: Partnerships
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