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Tyson is a 25% partner in the KT Partnership. On January 1, KT distributes $16,000 cash, stock investment with a $16,000 fair value inside basis

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Tyson is a 25% partner in the KT Partnership. On January 1, KT distributes $16,000 cash, stock investment with a $16,000 fair value inside basis $8,000), and land with a fair value for $14,000 (inside basis of $8,000) to Tyson KT as no liabilities at the date of the distribution. Tyson's basis in KT is $50,000. What is Tyson's basis in the distributed stock and land? $8,000 inventory, $16,000 land O $8.000 stock, $8.000 land O $18,133 stock, $15,867 land O $16,000 stock, S14.000 land

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