How much is shaw''s basis for tract b, Accounting Basics

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How much is shaw''s basis for tract b

Magda Shaw's adjusted basis for her partnership interest in Shaw & Zack was $60,000. In complete liquidation of her interest in Shaw & Zack, Shaw received cash of $44,000 plus the following assets:

Adjusted Basis to Shaw & Zack Fair Market Value to Shaw & Zack
Land-Tract A $24,000 $10,000
Land-Tract B 8,000 8,000

How much is Shaw's basis for Tract B?

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Accounting Basics: How much is shaw''s basis for tract b

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Magda Shaw's adjusted basis for her partnership interest in Shaw & Zack was $60,000. In complete liquidation of her interest in Shaw & Zack, Shaw received cash of $44,000 plus the following assets:

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Accounting Basics: How much is shaw''s basis for tract b

Reference No:- TGS0101327

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Accounting Basics: How much is shaw''s basis for tract b

Reference No:- TGS0101327

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