Becky Has a $24,000 Basis in Her Partnership Interest

question 54

Multiple Choice

Becky has a $24,000 basis in her partnership interest. She receives a current distribution of $4,000 cash, unrealized receivables with a basis of $12,000 and an FMV of $16,000, and land held as an investment with a basis of $3,000 and an FMV of $8,000. The partners' relative interests in the Sec. 751 assets do not change as a result of the current distribution. The basis of her partnership interest following the distribution is

• A)$5,000.
• B)$1,000.
• C)$0.
• D)($4,000).

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Definitions:

Travel Pattern

The habitual movement or route taken by an individual or group, often analyzed for planning effective sales and marketing strategies.

Routing Reports

are documents or systems that track and manage the journey of tasks, products, or information through a prescribed sequence of actions or stages.

Key Accounts

Accounts the loss of which would greatly affect sales and profits.

Sales Force Resources

Tools, materials, and support provided to a sales team to help them effectively perform their duties and achieve sales targets.