Barbara receives a current distribution consisting of $2,000 cash plus other property with an adjusted basis to the partnership of $2,300 and a fair market value on the date of the distribution of $7,000 . Barbara has a 10 percent interest in the partnership and her basis in her partnership interest, immediately prior to the distribution, is $5,000 . What is Barbara's basis in the non-cash
property received in the current distribution?
a. $2,000
b. $2,300
c. $3,000
d. $7,000
e. None of the above
b
Business
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