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Carlos contributes property with a basis of $130,000 (fair market value of $185,000) and cash of $15,000 to the Millicent Partnership, He receives a 20%
Carlos contributes property with a basis of $130,000 (fair market value of $185,000) and cash of $15,000 to the Millicent Partnership, He receives a 20% capital interest worth $200,000.
Carlos has a realized gain of $55,000 on the transfer, of which $0 is recognized. The basis of his interest in the partnership is $_________.
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