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What is terry basis in the sports memorabilia

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Reference no: EM132915255

Problem 1: Terry has basis in Bulldog Bar, a partnership, of $15,000. He received a distribution of a piece of appreciated sports memorabilia worth $5,000 with a basis of $1,500. What is Terry's basis in the sports memorabilia?

Group of answer choices

Option 1: $10,000

Option 2: $16,150

Option 3: $1,500

Option 4: $3,500

Reference no: EM132915255

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