AB Limited Partnership was formed on February 1, 2021, with individuals A and B making the following contributions: A: Cash of $100,000 B: Land (FMV $100,000, basis $80,000) A and B share profits equally. AB Limited started a service business on February 1, 2021. A is a general partner and materially participates in business. B is a limited partner. The following is a summary of 2021 operations, using the cash method of accounting: Gross sales $700,000 Cost of goods sold 400,000 Employee salaries 150,000 Payroll taxes foe employees 10,000 Guaranteed payments to A 51,000 Operating expenses 150,000 Charitable contributions 20,000 Accounts payable 40,000 Legal fees paid January 15, 2021 to prepare The partnership agreement 2,000 Based on the above information, calculate the following: A. AB Limited Partnership taxable income for 2021 As A B had contributed cash to the partnership, the basis in the partnership is the same as the contribution. B. A's basis in the partnership on February 1, 2021, and December 31, 2021. C. B's basis in the partnership on February 1, 2021, and December 31, 2021 D. The partnership basis in the land on February 1, 2021. E. What advice would you give to A and B regarding the availability of a Deduction for Qualified Business Income?