Problem:
On June 1, 2008, Mark Stevens received a 20% capital interest in Brown Associates, a partnership, in return for services rendered plus a contribution of assets with a basis to Stevens of $15,000 and a fair market value of $20,000. The fair market value of Steven's 20% interest was $38,000. How much is Steven's basis for his interest in Brown?
$15,000 or $20,000 or $33,000 or $38,000