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What is carol adjusted basis in the land

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Question - The adjusted basis of Carol's partnership interest is $50,000. She receives a distribution of $10,000 cash, land that has an adjusted basis of $30,000, and a FMV of $50,000. What is Carol's adjusted basis in the land?

A. $20,000

B. $40,000

C. $50,000

D. $30,000

Reference no: EM132844438

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