Cosmo contributed land with a fair market value of $345,000 and a tax basis of $106,500 to the Y Mountain partnership in exchange for a 35 percent profits and capital interest in the partnership. The land is secured by $126,000 of nonrecourse debt. Other than this nonrecourse debt, Y Mountain partnership does not have any debt. (Leave no answer blank. Enter zero if applicable.) Problem 20-41 Part-b b. What is Cosmo's tax basis in his partnership interest? Tax basis