Mirabelle Contributed Land with a $5,000 Basis and a $9,000

question 14

Multiple Choice

Mirabelle contributed land with a $5,000 basis and a $9,000 FMV to MS Partnership four years ago. This year the land is distributed to Sergio, another partner in the partnership. At the time of distribution, the land had a $12,000 FMV. What is the impact of the distribution on Mirabelle's partnership basis?

• A)0
• B)$4,000 increase
• C)$4,000 decrease
• D)$7,000 increase

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Definitions:

Risk of Infection

The likelihood or probability of being exposed to and acquiring an infectious disease.

Effects of Alcohol

The impact of alcohol consumption on the human body, which can range from short-term effects like intoxication to long-term health issues like liver disease.

Electronic Infusion Device

Piece of medical equipment that delivers intravenous fluids at a prescribed rate through an intravenous catheter.

Intravenous Infusion

The administration of liquid substances directly into a vein, commonly used for medications, fluids, or nutrients.