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Jack has a basis in his partnership interest of $30,000. He receives a current distribution of $24,000 cash and land ($1,000 A/B ; $27,000 FMV).

Jack has a basis in his partnership interest of $30,000. He receives a current distribution of $24,000 cash and land ($1,000 A/B ; $27,000 FMV). Jack's basis in the land is:

A-$16,000

B-$6,000

C-$27,000

D-$30,000

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