Required information Lauren's basis in Driftwood Partnership is $555,000. Driftwood distributes all the land to Lauren in complete liquidation of her partnership interest. The partnership reports the following balance sheet just before the distribution: Tax Basis FMV $ 487,000 919,000 250,000 $ 1,656,000 $ 379,000 379,000 379,000 $ 1,137,000 Assets Cash Stock (investment) Land Totals Liabilities and capital Capital-Esteban Capital-Kylie Capital-Lauren Totals 555,000 555,000 555,000 $ 1,665,000 b. If Driftwood does not have a $754 election in place, what is the amount of the special basis adjustment, if any? Special basis adjustment Decrease