Business, 18.11.2019 18:31 urgurlkitty

Randolph is a 30 percent partner in the rd partnership. on january 1, rd distributes $15,000 cash, an investment 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 is $48,000. what is randolph's basis in the distributed investment and land? a. $10,000 inventory, $10,000 land. b. $15,000 inventory, $12,000 land c. $15,000 inventory, $10,000 land. d. $10,000 inventory, $12,000 land.

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Randolph is a 30 percent partner in the rd partnership. on january 1, rd distributes $15,000 cash, a...

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