The smith , Jones and Johnson partnership owns three pieces of land. Each having a basis of $10000. And a fair market value ( FMV) of $22000. On july1 of the current year Doe porches Johnsons one third interest for its FMV of $22000. No section 754 election is made. Within two years of purchase, Does interest is liquidated by distributing one of the parcels of land to Doe. Based on this information, whatcha of the following statement is the most true?

A a section 732 (d) election would give Doe a basis of $22000 instead of $10000

B Doe is not eligible for a section 732(d)election

C Jonson must make a section 732(d) before leaving the partnership

DThe partners must unanimously agree to make a section 732(d) election