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Mark for follow up Question 23 of 75 . At the beginning of 2022 , Francisco owned a 50% interest in a partnership. During the
Mark for follow up Question 23 of 75 . At the beginning of 2022 , Francisco owned a 50% interest in a partnership. During the year, he contributed equipment wit fair market value of $14,000 to the partnership. At the time, his adjusted basis in the equipment was $10,000. Neither Francisco nor the partnership recognized any gain when the equipment was contributed. How does this contribution affect Francisco's outside basis? It decrease by $10,000. It increases by $10,000. It increases by $14,000. It is not impacted by the contribution. https://hrblock.csod.com/Evaluations/EvalLaunch.aspx?loid=d 75c80d416ce4c35bc4d392cfd414 ced\&evalLvl=5\&redirect_url=\%2fphnx\%2fdrive
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