business Tax ch 10

e. An LLC must have at least two members. QUESTION 14 Barbara receives a current distribution consisting of $2.000 cash plus other property with an adjusted basis to the partnership of $2,300 and a fair market value on the date of the distribution of $7,000. Barbara has a 10 percent interest in the partnership and her basis in her partnership interest, immediately prior to the distribution, is $5,000. What is Barbara's basis in the noncash property received in the current distribution? a. S2,300 b. $2.000 C. $3,000 d. $7,000 e. None of the above QUESTION 15 All