Sabrina contributes a building with an adjusted basis of $85,000 to a partnership. The fair...
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Sabrina contributes a building with an adjusted basis of $85,000 to a partnership. The fair market value of the building is S100,000 on the date of the contribution. What is Sabrina's basis in her partnership interest immediately after the contribution? 1.50 0 2 $100,000 3. $85,000 o 4 $80,000 QUESTION 15 Jamie decides to contribute cash and property to a partnership she and her friends started. She contributes a building worth S260,000 that she purchased for S120,000 and she also contributes S40,000 in cash. What is her basis in the partnership? 1 $140,000 2 s300,000 3 $100,000 4 $160,000
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