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Jack has a basis in a partnership interest = $50,000 before thepartnership distributes land to him with a basis and fair marketvalue = $60,000. Jack:a.Realizes

Jack has a basis in a partnership interest = $50,000 before thepartnership distributes land to him with a basis and fair marketvalue = $60,000. Jack:a.Realizes and recognizes a gain = $10,000c 2 answers

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