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Business, 10.11.2019 03:31 rowellr3

Tyson is a 25% partner in the kt partnership. on january 1, kt makes a proportionate distribution of $16,000 cash, inventory with a $10,000 fair value (inside basis $4,000), land a with a fair value of $8,000 (inside basis of $12,000) and land b with a fair value of $6,000 (inside basis of $4,000) to tyson. kt has no liabilities at the date of the distribution. tyson's basis in his kt partnership interest is $23,000. what is tyson's basis in the distributed inventory, land a and land b? a. $4,000 inventory, $2,000 land a, $1,000 land b. b. $0 inventory, $2,857 land a, $143 land b. c. $10,000 inventory, $8,000 land a, $6,000 land b. d. $4,000 inventory, $12,000 land a, $4,000 land b.

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