Ina contributes property with a basis of $20,000 and a value of $100,000 to a partnership in exchange for a 5% interest in profits, losses, capital, and liability sharing. The property is encumbered by a $40,000 recourse liability that is assumed by the partnership.

Which of the following conclusions about the result of this contribution is false?

Question options:

	Gina has a $20,000 basis in her partnership interest
	Gina's share of this partnership liability is $2,000
	Gina's outside basis is $0.