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Belle exchanges land ( basis $ 2 0 , 0 0 0 , value $ 6 5 , 0 0 0 ) for a 2

Belle exchanges land (basis $20,000, value $65,000) for a 20% partnership interest. The land was subject to a debt of $30,000.(a) How much gain or loss does she recognize? (b) What's her basis in her interest (outside basis)?(c) What's the p'ship's basis in the land?
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