Mirabelle Contributed Land with a $5,000 Basis and a $9,000

question 14

Multiple Choice

Mirabelle contributed land with a $5,000 basis and a $9,000 FMV to MS Partnership four years ago. This year the land is distributed to Sergio, another partner in the partnership. At the time of distribution, the land had a $12,000 FMV. What is the impact of the distribution on Mirabelle's partnership basis?

• A)0
• B)$4,000 increase
• C)$4,000 decrease
• D)$7,000 increase

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Definitions:

Deep Sleep

A stage of sleep characterized by slow brain waves, minimal bodily movement, and reduced response to external stimuli.

Brain Disorders

Conditions that impact the brain's structure and function, impairing mental processes and behaviors.

Sensory Receptors

Cells or structures specialized to detect changes in the environment and convey the information to the nervous system.

Ruffini End Organ

Receptor located deep in the dermis and responding to continuous touch or pressure. Named for Italian histologist Angelo Ruffini (1864–1929).