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. Abigail contributions land with an adjusted basis of $56,000 and a fair market value of $58,000 tl Blair and Partners, a partnership. Abogail recieves
. Abigail contributions land with an adjusted basis of $56,000 and a fair market value of $58,000 tl Blair and Partners, a partnership. Abogail recieves a 50% interest in Blair. What is Abigail's recognized gain or loss on the contribution?
a) $0
b) $2,000 gain
c) $2,000 loss
d) $1,000 gain
e) $1,000 loss
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