Daniel's basis in the DAT Partnership is $135,000. DAT distributes its land to Daniel in complete liquidation of his partnership interest. DAT reports the following balance sheet just before the distribution: 
If DAT has a §754 election in place, what is the amount of the special basis adjustment resulting from the distribution to Daniel? What is DAT's basis in its remaining assets?
Definitions:
Span of Control
The number of subordinates a manager or supervisor can effectively manage and control.
Administrative Costs
Expenses associated with daily operations of managing a business or organization, including office supplies, salaries of non-production staff, and utilities.
Customer Classification Departments
Divisions within a company that segment customers based on various criteria to tailor marketing and service delivery.
Mercy Medical Center
A healthcare institution providing medical care and services; without specific details, this can refer to any one of several hospitals by the same name in different locations.
Q2: Joan is a 1/3 partner in the
Q31: Large corporations (corporations with over $1,000,000 in
Q50: Packard Corporation reported pretax book income of
Q57: Crystal, Inc. is owned equally by John
Q57: The gross profit from a sale of
Q71: This year Don and his son purchased
Q74: Sunapee Corporation reported taxable income of $700,000
Q79: Obispo, Inc., a U.S. corporation, received the
Q93: Tax elections are rarely made at the
Q99: Cecilia, a Brazilian citizen and resident, spent