Wendy Receives a Proportionate Nonliquidating Distribution from the WXY Partnership

question 78

Multiple Choice

Wendy receives a proportionate nonliquidating distribution from the WXY Partnership.The distribution consists of $75,000 cash and property with an adjusted basis to the partnership of $20,000 and a fair market value of $25,000.Immediately before the distribution,Wendy's adjusted basis for her partnership interest is $90,000.Wendy's basis in the noncash property received is:

• A)$0.
• B)$15,000.
• C)$20,000.
• D)$25,000.
• E)None of the above.

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