Leslie Contributes a Building Worth $88,000,with an Adjusted Basis of $38,000,to

question 20

Multiple Choice

Leslie contributes a building worth $88,000,with an adjusted basis of $38,000,to a partnership in exchange for a 50 percent interest in the partnership's capital and profits.What is the amount of Leslie's basis in her partnership interest immediately after the contribution?

• A)$38,000
• B)$44,000
• C)$50,000
• D)$88,000
• E)None of the above