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Basis calculation when adding a new partner to S Corp

Submitted by Anonymous on Thu, 2010-01-28 12:18.

I bought 50% of an existing S corp 1/1/2010. Basis for the sole owner at year end 2009 was about $200,000. For future basis calculation, does my partner retain all $200,000 as his basis and I start from zero or did I "buy" half of the basis as part of the purchase?

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