Tenika Has a $10,000 Basis in Her Interest in the TF

question 104

Multiple Choice

Tenika has a $10,000 basis in her interest in the TF Partnership and no remaining precontribution gain immediately before receiving a current distribution that consisted of $4,000 in money,plastic tubes held in inventory with a $3,000 basis to the partnership and an FMV of $3,375,and drip irrigation pipe held as inventory with a $6,000 basis to the partnership and an FMV of $5,000.What is Tenika's basis for the plastic tubes and drip irrigation pipe?

---

Definitions:

Visible Light

The part of the electromagnetic spectrum that stimulates the eye and produces visual sensations.

Cosmic Rays

High-energy particles, originating outside the solar system, that travel through space and strike the Earth's atmosphere.

Ultraviolet Rays

Invisible radiation with wavelengths shorter than visible light but longer than X-rays, capable of producing chemical reactions and causing harm to skin and eyes.

Visual Field

The entire area that can be seen when the eye is directed forward, including peripheral vision.