B's basis in the partnership interest, which includes his share of liabilities, is $12,000. B sells his interest for a cash payment of $14,000. What are the tax consequences of this transaction?

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11-07-2024
Business

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B's basis in the partnership interest, which includes his share of liabilities, is $12,000. B sells his interest for a cash payment of $14,000. What are the tax consequences of this transaction?

Sagot :

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