Business, 23.10.2019 03:00 ben2005

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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