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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | Apr 2017 |
| Last Sign in: | 327 Weeks Ago, 6 Days Ago |
| Questions Answered: | 12843 |
| Tutorials Posted: | 12834 |
MBA, Ph.D in Management
Harvard university
Feb-1997 - Aug-2003
Professor
Strayer University
Jan-2007 - Present
Kathy is a 25% partner in the KDP partnership and receives a parcel of land with a fair value of $150,000 (inside basis of $100,000) in complete liquidation of hr partnership interest Kathy's outside basis immediately before the distribution is $200,000KDP currently has a £754 election in effect and has no hot assets or liabilities. What is KDP's special basis adjustment from the distribution? A. $ 0 B. $50,000 step up C. $100,000 step up D. $100,000 step down
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