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Business, 22.04.2020 04:53 keidyhernandezm

Tina and Bob formed the TB Partnership four years ago. Because they decided the company needed some expertise in multimedia presentations, they offered Kate a one-third interest in partnership capital if she would come to work for the partnership. On August 4 of the current year, the unrestricted partnership interest (fair market value of $25,000) was transferred to Kate. How should Kate treat the receipt of the partnership interest in the current year

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Tina and Bob formed the TB Partnership four years ago. Because they decided the company needed some...
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