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ABC partnership distributed to Alphonse his share of the following: $10,000 plus Accounts Receivable (0 basis) plus land worth $25,000 (basis $20,000) Alphonses basis in

ABC partnership distributed to Alphonse his share of the following: $10,000 plus Accounts Receivable (0 basis) plus land worth $25,000 (basis $20,000) Alphonses basis in the partnership was $20.000 Explain his basis after the distribution and the basis of the property he received.

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