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BASIS FMV CASH 24000 24000 ACCOUNTS REC 0 18000 EQUIPMENT 0 6000 BUILDING 42000 45000 LAND 6000 9000 TOTAl 72000 102000 ACCOUNTS PAYABLE 30000 30000

BASIS FMV
CASH 24000 24000
ACCOUNTS REC 0 18000
EQUIPMENT 0 6000
BUILDING 42000 45000
LAND 6000 9000
TOTAl 72000 102000
ACCOUNTS PAYABLE 30000 30000
A 14000 24000
B 14000 24000
C 14000 24000
TOTAL 72000 102000

If the partnership did not make the section 743 election, how would this affect the price C would receive for his interest? Explain.

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