Hunter Contributes Property Having a $75,000 FMV and a $65,000

question 32

Multiple Choice

Hunter contributes property having a $75,000 FMV and a $65,000 adjusted basis which is subject to a $36,000 mortgage in exchange for a one-fourth interest in the ABC Partnership.The partnership owes no other debts,but does assume this mortgage.Profits and losses are shared equally and each partner has a one-fourth interest in partnership capital.Hunter's basis in the partnership is

• A)$38,000.
• B)$48,000.
• C)$74,000.
• D)$84,000.

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Defective Gene

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The state of equal ease of access to resources and opportunities regardless of gender, including economic participation and decision making, and the state of valuing different behaviors, aspirations and needs equally, regardless of gender.

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