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Anne, Martha and Jim create Sunnyside Partnership with each owning 1/3 partnership interest. Anne contributes land with a FMV of 100,000 and an adjusted basis

Anne, Martha and Jim create Sunnyside Partnership with each owning 1/3 partnership interest. Anne contributes land with a FMV of 100,000 and an adjusted basis of $50,000. The land carries with it non-recourse debt in the amount of $60,000. Martha and Jim each contribute $50,000 in cash. What is each partners partnership interest upon creation of Sunnyside Partnership?

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