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What is mario basis in each asset that he receives

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Question - Mario's interest in Nintendo partnership has an adjusted basis of $275,000. In complete liquidation of his interest, Mario received $100,000 of cash plus the following: real estate ($125,000 adjusted basis; $400,000 fair market value); machinery ($75,000 adjusted basis; $55,000 fair market value); and unrealized receivables ($85,000 adjusted basis; $85,000 fair market value). What is Mario's basis in each asset that he receives?

Reference no: EM132980894

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