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At the beginning of the year, Elsies basis in the E&G Partnership interest is $90,000. She receives a proportionate non liquidating distribution from the partnership consisting of $10,000 of cash, unrealized accounts receivable (basis of $0, fair market value $40,000), and land (basis of $30,000, fair market value of $45,000). After the distribution, Elsies bases in the accounts receivable, land, and partnership interest are: 7. Basis in Accounts Receivable Basis in Land Basis in the Partnership
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Solution Explanation: a Basis in Accounts receivable b) Basis in Land c) Bis in the Partnership Basis will be carryover basis. $0 Basis will be carryover basis. $30000 (90000-10000-30000) 50000,remaining basis 0 30000 50000

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