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Jose has a basis in a partnership interest = $50,000 before the partnership distributes land to him with a basis and fair market value =
Jose has a basis in a partnership interest = $50,000 before the partnership distributes land to him with a basis and fair market value = $60,000. Joses basis in the land is:
| a. | $60,000 | c. | $10,000 |
| b. | $0 | d. | $50,000 |
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