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Carl is a 30 percent partner in the ccf partnership at the

Carl is a 30 percent partner in the CCF Partnership. At the beginning of the year, his basis in the partnership is $4,000. The partnership reports $7,000 of ordinary income and distributes $3,000 to the partners. What is Carl's basis at the end of the year?

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Accounting Basics: Carl is a 30 percent partner in the ccf partnership at the

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