Jacob owns a 30% interest in the capital and profits of Royal to Inc a partnership. Lindy owns the other 70%. His base is in his partnership. Interest is 40,000. In a proportionate distribution, Jacob receives 16,000 cash and a painting capital asset. To the partnership with the. 8000 Inside bases and 14,000 Fair market Value The partnership is not liquidating. What is Jacob's bases in the painting? A14,000. B. 0. C. 8000