Two years ago, Kimberly became a 30 percent partner in the KST Partnership with a contribution of investment land with a $16,000 basis and a $24,400 fair market value. On January 2 of this year, Kimberly has a $22,200 basis in her partnership interest and none of her pre-contribution gain has been recognized. On January 2 Kimberly receives an operating distribution of a tract of land (not the contributed land) with a $19,800 basis and an $28,200 fair market value.

b. What is Kimberlys remaining basis in KST after the distribution?

Basis:

c. What is KSTs basis in the land Kimberly contributed after Kimberly receives this distribution?

Basis: