Nan contributes property with an adjusted basis of $60,000 to a partnership. The property has a fair

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Nan contributes property with an adjusted basis of $60,000 to a partnership. The property has a fair market value of $75,000 on the date of the contribution. What is the partnership's basis in the property contributed by Nan? $________
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Income Tax Fundamentals 2019

ISBN: 9781337703062

37th Edition

Authors: Gerald E. Whittenburg, Steven Gill

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