Elton and John form the Elton-John Partnership, each receiving a 50% capital and profits interest. Elton contributed a computer with a basis to Elton of $3,000 and a fair market value of $1,000. John, an accountant, contributed his professional services by setting up the partnerships accounting system in return for his partnership interest. What is Johns basis in his partnership interest?

		$0
		$1,000
		$2,000
		$3,000