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(The following Information applies to the questions displayed below.) Bryce's basis in the Markit Partnership is $58,000. In a proportionate liquidating distribution, Bryce receives the
(The following Information applies to the questions displayed below.) Bryce's basis in the Markit Partnership is $58,000. In a proportionate liquidating distribution, Bryce receives the following assets: Cash Land A Land B Tax Basis FMV $8,000 8.000 $20,000 $45.000 $20,000 $25.000 (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) b. What is Bryce's basis in the distributed assets? Basis Land A Land B
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