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Jamie contributed fully depreciated ($0 basis) property valued at $30,000 to the JKLM Partnership in exchange for a 40% interest in partnership capital and profits. During the first year of partnership operations, JKLM had net taxable income of $80,000 and tax-exempt income of $10,000. The partnership distributed $20,000 cash to Jamie. Her share of partnership recourse liabilities on the last day of the partnership year was $13,000. What is Jamie's adjusted basis (outside basis) for her partnership interest at the end of the tax year?
Cognitive Neuroscience
The scientific field that is concerned with the study of the biological processes and aspects that underlie cognition, with a specific focus on the neural connections in the brain which are involved in mental processes.
Long-Term Interests
Enduring passions or enthusiasms in particular subjects or activities.
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Temporary gratifications that result in immediate joy or satisfaction.
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Scientists who study the psychological adaptations of humans to the changing physical and social environment, focusing on how evolutionary principles explain human thoughts, feelings, and behaviors.
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