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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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