Dan receives a proportionate current (nonliquidating) distribution when the basis of his partnership interest is $30,000. The distribution consists of $10,000 in cash and property with an adjusted basis to the partnership of $24,000 and a fair market value of $26,500. Dan's basis in the noncash property is:
A. $26,500.
B. $24,000.
C. $20,000.
D. $10,000.
E. $0.
Answer: C
You might also like to view...
A copyright gives its owner the exclusive right to publish and sell a musical, literary, or artistic work during the life of the creator plus 17 years.
Answer the following statement true (T) or false (F)
Last year Tiemann Technologies reported $10,500 of sales, $6,250 of operating costs other than depreciation, and $1,300 of depreciation. The company had no amortization charges, it had $5,000 of bonds that carry a 6.5% interest rate, and its federal-plus-state income tax rate was 25%. This year's data are expected to remain unchanged except for one item, depreciation, which is expected to increase by $750. By how much will net after-tax income change as a result of the change in depreciation? The company uses the same depreciation calculations for tax and stockholder reporting purposes.
A. -534.38 B. -562.50 C. -590.63 D. -620.16 E. -651.16
__________ is dividing the sample data into three sets for training, validation, and testing of the data mining algorithm performance.
A. Data sampling B. Data partitioning C. Data preparation D. Model assessment
Group cohesiveness affects group performance and effectiveness by the degree to which members are ______ the group.
-able to cut costs -less diverse within -able to eliminate conflict within -attracted to or loyal to