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Please send a typed and quick response Logan transferred property to the existing partnership of Logan, Keegan and Martin. The property had an adjusted basis

Please send a typed and quick response

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Logan transferred property to the existing partnership of Logan, Keegan and Martin. The property had an adjusted basis of $10,000 and a fair market value of $30,000. Two weeks later the partnership distributes $30,000 cash to Logan. Question: How much, if any, gain or loss would Logan recognize? SHOW YOUR COMPUTRATIONS

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