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Augustus1 Augustus1
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Payton and Eli form the EP Partnership to provide marketing services.  They will be equal partners. Payton is contributing property with a basis of $300,000 and a fair market value of $350,000.  Eli is contributing property with a fair market value of $200,000 and a $175,000 basis.  He will also provide services to the partnership valued at $150,000.  What tax issues does the partnership formation present?
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Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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Yoko900Yoko900
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Augustus1 Author
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7 years ago
I'm forever indebted to you!

THANKS
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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