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What amount of capital gain to pam

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Reference no: EM132842398

Problem 1: On January 1?, 2017 Pam purchases a? one-third interest in the RRR partnership for? $600,000. The? partnership's only asset is a piece of land held for investment. The land has a tax basis of? $1,200,000 and a FMV of ? $1,800,000. RRR has a Section 754 election in effect. On June ? 30, 2020, RRR sells the land for? $2,100,000. As a result? , RRR will allocate what amount of capital gain to Pam in 2020? ?

A. $0

B. ?$233,333

C. ?$300,000

D. ?$100,000

Reference no: EM132842398

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