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. The adjusted basis of X's partnership interest is $30,000. X receives $5,000 cash and a current nonliquidating distribution of property with an adjusted basis
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The adjusted basis of X's partnership interest is $30,000. X receives $5,000 cash and a current nonliquidating distribution of property with an adjusted basis of $45,000 to the partnership. What is X's basis for the property received in the distribution? $25,000 $15,000 $20,000 $35,000 $45,000Step by Step Solution
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