Question
nichole owns 50% interest in partnership j&k. she contributed a computer system with a fmv of $15,000 and an adjusted basis of $10,000 to the
nichole owns 50% interest in partnership j&k. she contributed a computer system with a fmv of $15,000 and an adjusted basis of $10,000 to the partnership. neither nichole nor the partnership recognized any gain when the property was contributed. which of the following is true regarding the partnership's basis in the computer system and nichole's outside basis?
(a) partnership basis in computer system- $10.000. nichole's outside basis-increases by $10.000 (b) partnership's basis in computer system -$10,000, nichole's outside basis-increase by $15,000 (c) partnership's basis in computer system-$15,000, nichole's outside basis- increases by $10,000 (d) partnership's basis in computer system-$15,000, nichole's outside basis- increase by $15,000
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