Business, 18.12.2019 20:31, Lianabel0517

Coy and matt are equal partners in the matcoy partnership. each partner has a basis in his partnership interest of $38,500 at the end of the current year, prior to any distribution. on december 31 they each receive an operating distribution. coy receives $16,300 cash. matt receives $4,785 cash and a parcel of land with a $11,515 fair market value and a $6,100 basis to the partnership. matcoy has no debt or hot assets. d. what is matt’s basis in the distributed property?

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Coy and matt are equal partners in the matcoy partnership. each partner has a basis in his partnersh...