Business, 31.07.2019 22:20 karrathomas

Jenny has a $54,000 basis in her 50% partnership interest in the jm partnership before receiving any distributions. this year jm makes a proportionate operating distribution to jenny of a parcel of land with an $80,000 fair value and a $64,000 basis to jm. the land is encumbered with a $30,000 mortgage (jm's only liability). what is jenny's basis in the land and her remaining basis in jm after the distribution: //www./notes/note/n/chapter-11-2019 /deck/21419261

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Jenny has a $54,000 basis in her 50% partnership interest in the jm partnership before receiving any...

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