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Questions 35 and 36 are based on the following information: Jed's outside basis in the BHCB partnership is $21,000. He received a current distribution consisting
Questions 35 and 36 are based on the following information: Jed's outside basis in the BHCB partnership is $21,000. He received a current distribution consisting of the following assets: Basis FMV Difference Capital Asset 1 $10,000 $70,000 $60,000 Capital Asset 2 $60,000 $100,000 $40,000 $70,000 $170,000 $100,000 Total Jed's basis in Capital Asset 1 is 1. $70,000 O 2. None of these O 3. $10,000 4 $3,000 5 $0 QUESTION 36 1.76 points Save See Question 35 for the facts. Jed's basis in Capital Asset 2 is 01. None of these. 2. $100,000 O 3. $40,400 4. $18,000 5. $60,000
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