The property has a fair market value of 75000 on the date


Question - Nan contributes property with an adjusted basis of $60,000 to a partnership. The property has a fair market value of $75,000 on the date of the contribution.

What is the partnership's basis in the property contributed by Nan?

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Accounting Basics: The property has a fair market value of 75000 on the date
Reference No:- TGS02496107

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