Susan Contributed Land with a Basis of $6,000 and an FMV

question 17

Multiple Choice

Susan contributed land with a basis of $6,000 and an FMV of $10,000 to the SH Partnership two years ago to acquire her partnership interest. This year, the land is distributed to Harry when its FMV is $11,000. No other distributions have been made since Susan became a partner. When the land is distributed, the partnership's basis in the land immediately before distribution is increased by

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

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Definitions:

Acute Mania

A phase of bipolar disorder characterized by an elevated or irritable mood, hyperactivity, and often rapid speech, lasting at least a week.

Energy Conservation

Strategies or practices aimed at reducing the consumption of energy to save resources, lower costs, and decrease environmental impact.

Energy Conservation

Practices or strategies to reduce the consumption of energy resources and improve efficiency.

Monopolizes Conversations

Dominates discussions frequently, leaving little room for others to contribute.