Coy and Matt are equal partners in the Matcoy Partnership. Each partner has a basis in his partnership interest of $10,000 at the end of the current year, prior to any distribution. On December 31 they each receive a proportionate current distribution. Coy receives $15,000 cash. Matt receives $3,000 cash and a parcel of land with a $12,000 fair market value and a $11,000 inside basis. Matcoy has no debt or hot assets. Matt's basis in the land received from the partnership is an example of a Multiple Choice stepped-up basis decreased basis hot asset basis stepped-down basis built-in loss basis