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Amber partnership a general partnership has many

Problem

Amber Partnership, a general partnership, has many opportunities to use special allocations.On of the special allocations available to Amber is the optional adjustment to basis election under Sec 754 and 743 when a new partner acquires a partnership interest from an existing partner. Discuss the relevant factors that should be considered before making this election.

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Accounting Basics: Amber partnership a general partnership has many

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