Peggy has a 1/3 ownership in Kash partnership. She paid $50,000 for the 1/3 interest. In the first..
Peggy has a 1/3 ownership in Kash partnership. She paid $50,000 for the 1/3 interest. In the first year of operation, the partnership had $30,000 of non-separately stated income and borrowed $6,000. What is Peggy’s basis?