QUESTION 27 Gladys's Adjusted Basis in her Partnership Interest in Olsa Partnership was 572,000. In Complete Liquidation of her interest in Olsa Partnership Gladys received Cash of $40,000 and Investment and having a Fale Market Value of $20,000 and an Adjusted Basis to the Partnership of $17.000. Gladys's basis in the Land is 572,000 $17.000 $28.000 $32,000