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Bryces basis in the Markit Partnership is $58,000. In a proportionate liquidating distribution, Bryce receives the following assets: Tax Basis FMV Cash $10,000 $10,000 Land

Bryces basis in the Markit Partnership is $58,000. In a proportionate liquidating distribution, Bryce receives the following assets:

Tax Basis FMV

Cash $10,000 $10,000

Land A 20,000 45,000

Land B 20,000 25,000

What is Bryces basis in the Land B?

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