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When someone purchases a partnership interest with a negative capital account from a partner, does the new partner take on the old partners negative capital account?

jwa250
Level 1

If no, how do you calculate the new partner's capital account?

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sjrcpa
Level 15

Yes. But the purchaser's basis starts with the amount of the purchase price.

The more I know, the more I don't know.

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sjrcpa
Level 15

Yes. But the purchaser's basis starts with the amount of the purchase price.

The more I know, the more I don't know.
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