1. Betty contributes the following to ABC Partnership for a 25% interest: Cash $20,000 Building: o $200,000 FMV o $160,000 Adjusted basis o $180,000 Nonrecourse mortgage Prior to the contribution, ABC has $60,000 of accounts payable (nonrecourse liability) and a $100,000 recourse bank loan listing the existing partners by name. a. What is Betty's outside basis in her partnership interest before debt relief? Land-FMV b. What is Betty's outside basis in her partnership interest? c. What is ABC's basis in the building? d. What is Betty's inside basis in ABC's new building? 1. Betty contributes the following to ABC Partnership for a 25% interest: Cash $20,000 Building: o $200,000 FMV o $160,000 Adjusted basis o $180,000 Nonrecourse mortgage Prior to the contribution, ABC has $60,000 of accounts payable (nonrecourse liability) and a $100,000 recourse bank loan listing the existing partners by name. a. What is Betty's outside basis in her partnership interest before debt relief? Land-FMV b. What is Betty's outside basis in her partnership interest? c. What is ABC's basis in the building? d. What is Betty's inside basis in ABC's new building