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Calculate the Hart basis for the land

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Problem - Hart's adjusted basis of his interest in a partnership was $30,000. He received a proportionate nonliquidating distribution of $24,000 cash plus a parcel of land with a fair market value and partnership basis of $9,000. Calculate the Hart's basis for the land?

a. $9,000

b. $6,000

c. $3,000

d. $0

Reference no: EM132663376

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