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What will be Sarah tax basis in the land received

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Question - Sarah is a 25 percent partner in Tomahawk Partners. Her tax basis in her partnership interest is $18,000. She received a non-liquidating distribution of land with a tax basis of $23,000 and a fair market value of $45,000. The partnership has no liabilities. What will be Sarah's tax basis in the land received in the non-liquidating distribution?

a. $18,000

b. $23,000

c. $45,000

d. zero

e. none of the above

Reference no: EM132448674

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