Which of the following will create a tax/book disparity between a partners book capital account...
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Accounting
Which of the following will create a taxbook disparity between a partners book capital account and tax capital account? PICK ALL THAT APPLY!!
A a two person partnership with equal partners normally each for profits, losses, and capital ownership makes a oneyear special allocation of of the income to one partner and to another partner
B a partner contributes property to a partnership that has a $ fair market value and a $ tax basis
C a partnership borrows $
D a twoperson partnership revalues its assets for book purposes immediately prior to admitting a third partner
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