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Caroline, Jessica, and Samantha form a partnership. Caroline contributes a building, Jessica contributes cash and Samantha will operate the business. FMV Partnership % Caroline's Building

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Caroline, Jessica, and Samantha form a partnership. Caroline contributes a building, Jessica contributes cash and Samantha will operate the business. FMV Partnership % Caroline's Building Basis $100,000 $400,000 $400,000 $400,000 20% Jessica's Cash 20% Samantha's Services $0 $0 60% How much income must Samantha recognize? $500,000. $480,000. $0. $400.000

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