Jane Contributes Land with an FMV of $100,000 and a Basis

question 112

Essay

Jane contributes land with an FMV of $100,000 and a basis of $80,000 to the Green Partnership in exchange for a 25% partnership interest. The partnership assumes the $40,000 mortgage on the land. Mary has a 25% share of partnership liabilities. The Green Partnership has $8,000 in liabilities immediately before Jane's contribution. What is Jane's basis in her partnership interest?

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Definitions:

Pathogen

An organism, such as a virus, bacterium, prion, or fungus, that can cause disease in its host.

Cycle Of Infection

The process by which infectious agents multiply and spread from a source to a susceptible host, leading to disease transmission.

Method

A systematic way of doing something, often involving a detailed series of steps or procedures.

Pathogens

Microorganisms that cause disease in humans and other living hosts.