Discussion Post: Basis
In your own words, discuss the concept of basis, differentiating between outside basis and inside basis. Then explain how two partners, each with a 50% interest in a partnership, can have different amounts of outside basis at the formation of the partnership. Shouldn't the two partners contribute the same amount to have the same interest?
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.