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7- In a non-liquidating distribution, Tom receives cash of $5,000 and land in which the partnership's basis was $10,000. His basis in his interest was
7- In a non-liquidating distribution, Tom receives cash of $5,000 and land in which the partnership's basis was $10,000. His basis in his interest was $30,000. How much gain or loss does he have? What's his basis in the land? What's his basis in the partnership interest after the distribution
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