Anthony's Basis in the WAM Partnership Interest Was $200,000 Just

question 95

Multiple Choice

Anthony's basis in the WAM Partnership interest was $200,000 just before he received a proportionate liquidating distribution consisting of investment land (basis of $90,000, fair market value $100,000) , and inventory (basis of $30,000, fair market value $70,000) . After the distribution, Anthony's recognized gain or loss and his basis in the land and inventory are:

• A) $80,000 loss; $90,000 (land); $30,000 (inventory).
• B) $70,000 loss; $100,000 (land); $30,000 (inventory).
• C) $30,000 loss; $100,000 (land); $70,000 (inventory).
• D) $0 gain or loss; $170,000 (land); $30,000 (inventory).
• E) None of the above.

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Definitions:

Formal Volunteer Policies

Official guidelines and procedures designed to manage and support volunteers effectively within organizations.

Intrinsic Motivation

The drive to act for the inherent satisfaction or fulfillment in the activity itself, rather than for some separable consequence or reward.

Extrinsic Motivation

A form of motivation driven by external rewards, such as money, grades, or recognition, rather than personal satisfaction or interest in the task itself.

Voluntourism

A form of tourism where individuals volunteer for a charitable cause while exploring new locations, often in a different country.