Illustrate what is her basis in the land and equipment

Reference no: EM13121667

Q. Conny has a $20,000 basis in her partnership interest before receiving a current distribution of $8,000 in cash, inventory with a basis of $5,000, a parcel of land held by the partnership as an investment (basis $3,000), and equipment with a basis of $6,000. Illustrate what is her basis in the land and equipment?

Reference no: EM13121667

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