Bernardina's Adjusted Basis in her Partnership Interest in Cruz Partnership was $24,000, In Complete Liquidation of her interest in Cruz Partnership, Bernardina recelved Cash of $4,000 and Equipment having a Fair Market Value of $40,000 and an adjusted Basis to the Partnership of $25,000. Bernardina's basis in the Equipment is O $40,000 $20,000 $24,000. $25,000