Adnan had an adjusted basis of $11,000 for his interest in the Adnan and Donnell Partnership on December 31. On this date Adnan received from the partnership, in complete liquidation of his interest, $10,000 cash and land with a $2,000 basis to the partnership and a $3,000 FMV.
What is Adnan's basis for the land distributed to him?

$1,000

Explanation:

Adjusted basis - Cash = Remaining basis

Hence,

$11,000 -$10,000 =$1,000

Therefore $1,000 is the remaining basis which is Adnan's basis for the land distributed to him because Adnan's had an adjusted basis of $11,000 for his interest in the Adnan and Donnell Partnershipbin and he also received from the partnership, in complete liquidation of his interest which is $10,000 cash.

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%