AB Partnership has the following assets and liabilities at year end. The book basis and tax basis are the same amount. | Cheap Nursing Papers
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AB Partnership has the following assets and liabilities at year end. The book basis and tax basis are the same amount.

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$90000 basis $90000 value

Note 1 is a recourse note attached to the machine, Note 2 is a nonrecourse note attached to the building. What is the amount of the partnership’s minimum gain?

  • $3000
  • $8000
  • $10000
  • $18000

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