Atiqa Receives a Nonliquidating Distribution of Land from Her Partnership

question 3

Multiple Choice

Atiqa receives a nonliquidating distribution of land from her partnership.The partnership purchased the land five years ago for $20,000.At the time of the distribution,it is worth $28,000.Prior to the distribution,Atiqa's basis in her partnership interest is $37,000.Atiqa's basis in the distributed land her post-distribution basis in her partnership interest are:

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Definitions:

Amplitude

The height or strength of a wave signal, often used in reference to sound or electromagnetic waves.

Panache

Distinctive and flamboyant flair or style.

Relative Size

A monocular cue for perception that allows us to determine how close objects are to an object of known size.

Texture Gradient

A depth cue in perception, referring to the way texture becomes denser and finer as it moves into the distance, helping the eye perceive depth.