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QUESTION 3 Basil has a basis in her Partnership Interest of $18,000 and receives a distribution in Complete Liquidation of her Interest of 524.000 in

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QUESTION 3 Basil has a basis in her Partnership Interest of $18,000 and receives a distribution in Complete Liquidation of her Interest of 524.000 in Cash The adjustment made by the Partnership to its remaining assets of the Optional Basis Adjustment election is in effect is $10,000 Decrease $6,000 Decrease 56,000 Increase $10,000 Increase

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