Ava and Rose are each 50/50 general partners in AR Partnership. Ava contributes machinery with a FMV of $60,000 and an adjusted basis of $18,000, and Rose contributes accounting services of $60,000. What is the amount income Ava and Rose pick up on their individual tax returns for their contributions to AR Partnership? Ava Rose

Ava and Rose are each 50/50 general partners in AR Partnership. Ava contributes machinery with a FMV of $60,000 and an adjusted basis of $18,000, and Rose contributes accounting services of $60,000. What is the amount income Ava and Rose pick up on their individual tax returns for their contributions to AR Partnership