A and B form AB partnership in January 2023. As part of the formation transaction...
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Accounting
A and B form AB partnership in January As part of the formation transaction i A transfers Property having a value of $ and a tax basis of $ to AB partnership and ii B transfers Property having a value of $ and a tax basis of $ to AB partnership. Property is encumbered by a $ liability; B transfers Property to AB partnership subject to and AB partnership assumes, the $ liability. AB partnership expects to make monthly cash distributions to each of A and B beginning in January Could the disguised sale of property rules apply in this fact pattern?
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