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On January 1 of the current year, Kane was a 25% equal partner in Maze general partnership, which had partnership liabilities of $300,000. On January 2, a new partner was admitted and Kane's interest was reduced to 20%. On April 1, Maze repaid a $100,000 general partnership loan. Ignoring any income, loss, or distributions for the current year, what was the net effect of the two transactions on Kane's tax basis in Maze partnership interest?
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