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What is kdp special basis adjustment from the distribution

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Question - Kathy is a 25% partner in the KDP partnership and receives a parcel of land with a fair value of $150,000 (inside basis of $100,000) in complete liquidation of hr partnership interest Kathy's outside basis immediately before the distribution is $200,000KDP currently has a £754 election in effect and has no hot assets or liabilities.

What is KDP's special basis adjustment from the distribution?

A. $ 0

B. $50,000 step up

C. $100,000 step up

D. $100,000 step down

Reference no: EM131696348

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