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S has contributed property with a fair market value of $9,000 and $3,000 as an adjusted basis to a partnership in exchange for an 10%

S has contributed property with a fair market value of $9,000 and $3,000 as an adjusted basis to a partnership in exchange for an 10% partnership interest. Determine the amount of gain recognized by S as a result of the transfer of the property to the partnership. nswer A) $9,000 B) $3,000 C) 0 D) $5,000

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