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Lindee owns a 70% interest in the capital and profits of Royalty Inc. (a partnership....

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Accounting

Lindee owns a 70% interest in the capital and profits of Royalty Inc. (a partnership. Jacob owns the other 30%). Her basis in her partnership interest is $25,000. In a proportionate distribution, Lindee receives land with an inside basis of $41,000 and fair market value of $70,000. The partnership is not liquidating. What is Lindee's basis in the land?
Group of answer choices
$41,000
$25,000
$70,000

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