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Last December 31, Ramon sold the 10 percent interest in the Del Sol Partnership that...

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Accounting

Last December 31, Ramon sold the 10 percent interest in the Del Sol Partnership that he had held for two years to Garrett for $400,000. Prior to selling his interest, Ramon's basis in Del Sol was $200,000, which included a $100,000 share of nonrecourse liabilities allocated to him.
a. What is Garrett's tax basis in his partnership interest?

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