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

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