Two Years Ago,Tom Contributed Investment Land with a Basis of $50,000

question 12

Essay

Two years ago,Tom contributed investment land with a basis of $50,000 and FMV of $62,000 to the RST Partnership.This year,Tom has a basis in his partnership interest of $53,000 when he receives a current distribution of $14,000 cash and inventory with a basis of $35,000 and FMV of $52,000.(There is no Sec.751 exchange in connection with the inventory distribution. )The partnership continues to hold the land Tom contributed.How much gain (if any)must Tom recognize as a result of this distribution?

---

Definitions:

Brand Interactions

The engagements or activities that occur between a customer and a brand across various touchpoints.

Social Media

Platforms that enable users to create, share content or participate in social networking.

One-to-One Communications

One-to-one communications involve direct and individual interaction between two parties, such as a company and a customer, allowing for personalized messages and a deeper connection.

Information Interactivity

The extent to which users can participate in modifying the form and content of a mediated environment in real-time.