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C HAS A 20% capital, profits, and losses interest in the abc partnership, which as assets...

C HAS A 20% capital, profits, and losses interest in the abc partnership, which as assets of 600, liablities of 200, and partner capital accounts of 400. what is c's INSIDE BASIS in the partnership

20

40

80

120

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Answer #1

C has a 20% capital, profits, and losses interest in the ABC partnership.

ABC partnership has Assets of 600, liabilities of 200, and partner capital accounts of 400.

INSIDE BASIS of  the partnership = Total assets of the partnership

= 600

C's INSIDE BASIS in the partnership = Total assets of the partnership x C's share

= 600 x 20%

= 120

Fourth option is the correct option.

Please ask if you have any query related to the question. Thank you

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