Tenika Has a $10,000 Basis in Her Interest in the TF

question 83

Multiple Choice

Tenika has a $10,000 basis in her interest in the TF Partnership and no remaining precontribution gain immediately before receiving a current distribution that consisted of $4,000 in money, plastic tubes held in inventory with a $3,000 basis to the partnership and an FMV of $3,375, and drip irrigation pipe held as inventory with a $6,000 basis to the partnership and an FMV of $5,000. What is Tenika's basis for the plastic tubes and drip irrigation pipe?

• A) \[\begin{array} { | l | l | }
• \hline \text { Plastic Tubes } & \text { Drip Pipe } \\
• \hline 3,375 & \$ 5,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | l | }
• \hline \text { Plastic Tubes } & \text { Drip Pipe } \\
• \hline \$ 3,000 & \$ 6,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | l | }
• \hline \text { Plastic Tubes } & \text { Drip Pipe } \\
• \hline \$ 3,000 & \$ 5,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | l | }
• \hline \text { Plastic Tubes } & \text { Drip Pipe } \\
• \hline\$ \$ 2,250 & \$ 3,750 \\
• \hline
• \end{array}\]

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Definitions:

Depressing Feelings

Emotions that contribute to a state of feeling sad, hopeless, and discouraged.

Outlook on Life

An individual's general attitude or viewpoint towards life and the future.

Depressed Individuals

People who are experiencing depression, characterized by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in activities.

Reasonable Certainty

A standard requiring sufficient specificity in the details of an agreement or fact to enable enforcement or determination by a court.