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John Has a Basis in His Partnership Interest of $30,000

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John has a basis in his partnership interest of $30,000. He receives a current distribution of $6,000 cash, unrealized receivables (FMV $11,000, basis $10,000) , inventory (FMV $8,000, basis $4,000) , and investment land (FMV $7,000, basis $6,000) . The partners' relative interest in the Sec. 751 assets do not change as a result of the current distribution. His basis in the land is

Recognize the potential for mutual benefits from trade between individuals or nations.
Understand how trade can lead to an increase in overall economic efficiency and output.
Understand the principle of comparative advantage and its implications for international trade.
Analyze the impact of specializing based on comparative advantage on a country's production and consumption possibilities.

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