Bart Has a Partnership Interest with a $32,000 Basis

question 1

Multiple Choice

Bart has a partnership interest with a $32,000 basis. He receives a current distribution of $6,000 cash, unrealized receivables (FMV $9,000, basis $10,000) , inventory (FMV $8,000, basis $4,000) , investment land (FMV $7,000, basis $4,000) , and building (FMV $20,000, basis $8,000) . No depreciation recapture applies with respect to the building. The partners' relative interests in the Sec. 751 assets do not change as a result of the current distribution. Bart's basis in the building is

• A)$3,000.
• B)$4,000.
• C)$6,000.
• D)$8,000.

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Definitions:

Safety Features

Designed mechanisms and protocols in products, environments, or systems to prevent accidents, injuries, and ensure the well-being of users or occupants.

EPA-Approved Disinfectant

A disinfectant that has been tested and approved by the Environmental Protection Agency for its effectiveness against specific pathogens.

Bleach Solution

A liquid mixture containing bleach, typically used for disinfecting or whitening purposes.

Respiratory Etiquette

The practice of minimizing the spread of respiratory pathogens through certain behaviors, such as covering the mouth and nose with a tissue when coughing or sneezing.