Please answer in Excel showing work. Julie's outside basis in her...
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Accounting
Please answer in Excel showing work.
Julie's outside basis in her interest in J&W Partnership is $125,000. The partnership distributes to her cash of $42,000, inventory (fair market value of $47,000 and basis to the partnership of $23,000), and equipment (fair market value of $84,000 and basis to the partnership of $52,000) in a proportionate current distribution. Determine Julie's basis in the inventory, equipment, and her partnership interest after the distribution. The partnership continues to exist
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