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  3. a partner receives the following in a liquidating

A partner receives the following in a liquidating distribution: Basis FMV...

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Accounting

A partner receives the following in a liquidating distribution:
Basis FMV
Cash $12,000 $12,000
Accounts receivable (A/R)04,000
Land 8,0003,000
The partner's basis in the partnership immediately prior to the distribution is $25,000. What is the patner's basis in the A/R and the land immeidately after the liquidating distribution?

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