Business, 30.09.2019 23:10, Gearyjames8
Randolph is a 30% partner in the rd partnership. on january 1, rd distributes $15,000 cash, inventory with a fair value of $20,000 (inside basis of $10,000), and a parcel of land with a fair value of $10,000 (inside basis of $5,000) to randolph in complete liquidation of his interest. rd has no liabilities at the date of the distribution. randolph's basis in his rd partnership interest his is $37,000. what is randolph's basis in the distributed inventory and land?
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Randolph is a 30% partner in the rd partnership. on january 1, rd distributes $15,000 cash, inventor...
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