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Lacy contributes the following assets to a partnership for a 25% interest: Lacy's Basis. FMV Land. $15,000. $50,000 Van $10,000. $15,000 Total. $25,000. $65,000 The

Lacy contributes the following assets to a partnership for a 25% interest:

Lacy's Basis. FMV Land. $15,000. $50,000 Van $10,000. $15,000 Total. $25,000. $65,000

The land and the van have a basis to the partnership of:

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