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Judge has been a partner in the Lloyd Partnership for several years. His outside basis is 10000 and his capital account is 17000. Judge receives
Judge has been a partner in the Lloyd Partnership for several years. His outside basis is 10000 and his capital account is 17000. Judge receives a current distribution of 4000 cash and land with a basis of 13000 and a FMV of 9000. WHat is Judges basis in the land distributed? a)9000 b)10000 c)13000 d)6000
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