Interest immediately after the exchange

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Reference no: EM13777701

A wealthy executive contributes $10,000 cash and equipment worth $90,000 (with and adjusted tax basis of $25,000) in exchange for a 50 percent partnership interest in AB limited partnership.

What tax basis does the wealthy executive have in her AB partnership interest immediately after the exchange?

a. $10,000

b. $25,000

c. $35,000

d. $100,000

Reference no: EM13777701

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