Sabrina Contributes a Building with an Adjusted Basis of $80,000

question 72

Multiple Choice

Sabrina contributes a building with an adjusted basis of $80,000 to a partnership.The fair market value of the building is $100,000 on the date of the contribution.What is Sabrina's basis in her partnership interest immediately after the contribution?

• A)$0
• B)$40,000
• C)$80,000
• D)$100,000
• E)None of the above

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Definitions:

Chitin

Strong but flexible nitrogenous polysaccharide found in the exoskeleton of arthropods and in the cell walls of fungi.

Integument

The outer protective layer or covering of an organism, which in animals is usually the skin, and in plants, the epidermis or outer layer.

Planaria

A genus of flatworms known for their remarkable ability to regenerate, commonly studied in research on regeneration and stem cells.

Muscular Pharynx

The muscular pharynx is a part of the digestive and respiratory systems, playing a crucial role in swallowing and the passage of air and food.