Magda Shaw's adjusted basis for her partnership interest in Shaw & Zack was $$60,000.$ In complete liquidation of her interest in Shaw & Zack, Shaw received cash of $$44,000$ plus the following assets:

$\backslash$table$[[,$Adjusted Basis to$,$Fair Market Value to$],[,$Shaw & Zack,Shaw & Zack$],[$Land$-$Tract A$,$$$24,000,$$$10,000$