Business, 15.04.2020 02:55 hannah2718

Barbara receives a current distribution consisting of $2,000 cash plus other property with an adjusted basis to the partnership of $2,300 and a fair market value on the date of the distribution of $7,000. Barbara has a 10 percent interest in the partnership and her basis in her partnership interest, immediately prior to the distribution, is $5,000. What is Barbara's basis in the noncash property received in the current distribution? a. $2,300 b. $2,000 c. $3,000 d. $7,000 e. None of these

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Barbara receives a current distribution consisting of $2,000 cash plus other property with an adjust...