Cash Basis 8000 FMV 8000
Land A Basis 20000 FMV 45000
Land B Basis 20000 FMV 25000
In a proportionate liquidating distribution, my basis in the partnership is 58000.
What should my basis in the distributed assets be for
Please show work.© BrainMass Inc. brainmass.com December 15, 2020, 8:20 pm ad1c9bdddf
This solution illustrates how to compute a partner's basis in the assets he or she receives in a partnership's liquidation.