Anne contributes property to the TCA Partnership which was formed 8 years ago by Clark and Tara.Anne's basis for the property is $90,000 and the fair market value is $220,000.Anne receives a 25% interest for her contribution.Because the TCA Partnership is unsuccessful in having the property rezoned from agricultural to commercial,it sells the property 14 months later for $225,000.
Definitions:
Proportional Representation
An electoral system where parties gain seats in proportion to the number of votes cast for them, as opposed to winner-take-all systems.
Two-Party System
A political system dominated by two major parties that alternately control government power, often to the exclusion of smaller parties.
Party Identification
The political party with which an individual identifies, often influencing their voting behavior and political opinions.
White Southerners
A demographic group in the United States, historically associated with the southern states.
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