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Business & farm
Are you talking about the Partnership's basis in the property?
According to IRS Publication 541 "If a partner contributes property to a partnership, the partnership's basis for determining depreciation, depletion, gain, or loss for the property is the same as the partner's adjusted basis for the property when it was contributed, increased by any gain recognized by the partner at the time of contribution."
In other words, the Partnership's basis is your basis.
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‎January 22, 2020
1:10 PM