Question
Rania has a $83,675 basis in her 50 percent partnership interest in the KD Partnership before receiving a current distribution of $7,925 cash and land
Rania has a $83,675 basis in her 50 percent partnership interest in the KD Partnership before receiving a current distribution of $7,925 cash and land with a fair market value of $42,150 and a basis to the partnership of $21,850.
b. What is Rania's basis in the land?
c. What is Rania's remaining basis in her partnership interest?
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The Access Audit Handbook An Inclusive Approach To Auditing Buildings
Authors: Centre For Accessible Environments
3rd Edition
1914124839, 978-1914124839
