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Required information. [The following information applies to the questions displayed below] Bryce's basis in the Markit Partnership is $62,185. In a proportionate liquidating distribution, Bryce
Required information. [The following information applies to the questions displayed below] Bryce's basis in the Markit Partnership is $62,185. In a proportionate liquidating distribution, Bryce receives the following assets: Tax Basis FMV Cash Land A Land B $ 8,900 $ 21,350 $ 8,900 $47,025 $ 21,350 $ 26,800 b. What is Bryce's basis in the distributed assets? (Round your intermediate and final answers to the nearest whole dollar amount.) Cash Land A Land B Basis
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