Question
Abigail contributions land with an adjusted basis of $56,000 and a fair market value of $58,000 tl Blair and Partners, a partnership. Abigail receives a
Abigail contributions land with an adjusted basis of $56,000 and a fair market value of $58,000 tl Blair and Partners, a partnership. Abigail receives a 50% interest in Blair. What is Blair's basis in her partnership interest?
a $0
b $ 28,000
c $ 29,000
d $ 56,000
e $58,000
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins
4th Edition
0073527092, 978-0073527093
