Question
Sabrina contributes a building with an adjusted basis of $80,000 to a partnership. The fair market value of the building is $100,000 on the date
Sabrina contributes a building with an adjusted basis of $80,000 to a partnership. The fair market value of the building is $100,000 on the date of the contribution. What is Sabrina's basis in her partnership interest immediately after the contribution?
Select one:
a.$0
b.$40,000
c.$80,000
d.$100,000
e.None of the above
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College Accounting A Practical Approach
Authors: Jeffrey Slater, Brian Zwicker
12th Canadian edition
133133230, 978-0133133233
