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

question 70

Multiple Choice

Carlos 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) , land held as an investment (FMV $7,000, basis, $6,000) , and building (FMV $21,000, basis $9,000) . The partners' relative interests in the Sec. 751 assets do not change as a result of the current distribution. Carlos's basis in the building is

• A)$2,500.
• B)$6,000.
• C)$7,500.
• D)$9,000.

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Definitions:

Aggressive Personalities

Individuals who exhibit a pattern of hostile, assertive, or forceful behavior, often engaging in acts of aggression or dominance over others.

Inferiority Complex

A psychological condition where a person feels a deep sense of inferiority and inadequacy, often leading to overcompensation or withdrawal.

Capacity for Motherhood

The potential or ability of a person to fulfill the roles and duties associated with being a mother, encompassing emotional, physical, and psychological aspects.

Idolized Self-image

A highly idealized version of oneself that a person aspires to, often without acknowledging realistic limitations or flaws.