(d) The partners usuributes DSV Of cash and brownacre w raule. 8. Regan is a partner in Yosemite Acres Real Estate Development Associates. The basis of Regan's partnership interest is $9,000. The partnership holds various parcels of real estate, some of which are held for ART TAXATION OF PARTNERS AND PARTNER held for rental. To reduce its holdings, the partnership distributed to each sale to customers in the ordinary course of business and some of which are partner, in proportion to the partners' capital interests in the partnership undivided interests in Blackacre and Whiteacre. The fair market value of the interest in Blackacre received by Regan was $7,500, and the portion of the partnership's basis for the interest in Blackacre received by Regan wa Regan was $15,000, and the portion of the partnership's basis for the interes $12,000. The fair market value of the interest in Whiteacre received in Whiteacre received by Regan was $6,000. What is Regan's basis is Whiteacre and Blackacre if: (a) Whiteacre was held for sale to customers in the ordinary course business and Blackacre was held for rental? (b) Blackacre was held for sale to customers in the ordinary course business and Whiteacre was held for rental? (c) Both properties were: (1) held for sale to customers in the ordinary course of business? (2) held for rental? thod individuals, are equal partners in the A (d) The partners usuributes DSV Of cash and brownacre w raule. 8. Regan is a partner in Yosemite Acres Real Estate Development Associates. The basis of Regan's partnership interest is $9,000. The partnership holds various parcels of real estate, some of which are held for ART TAXATION OF PARTNERS AND PARTNER held for rental. To reduce its holdings, the partnership distributed to each sale to customers in the ordinary course of business and some of which are partner, in proportion to the partners' capital interests in the partnership undivided interests in Blackacre and Whiteacre. The fair market value of the interest in Blackacre received by Regan was $7,500, and the portion of the partnership's basis for the interest in Blackacre received by Regan wa Regan was $15,000, and the portion of the partnership's basis for the interes $12,000. The fair market value of the interest in Whiteacre received in Whiteacre received by Regan was $6,000. What is Regan's basis is Whiteacre and Blackacre if: (a) Whiteacre was held for sale to customers in the ordinary course business and Blackacre was held for rental? (b) Blackacre was held for sale to customers in the ordinary course business and Whiteacre was held for rental? (c) Both properties were: (1) held for sale to customers in the ordinary course of business? (2) held for rental? thod individuals, are equal partners in the A
