Sarah is a 25 percent partner in Tomahawk Partners. Her tax basis in h


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Sarah is a 25 percent partner in Tomahawk Partners. Her tax basis in her partnership interest is $18,000. She received a non-liquidating distribution of land with a tax basis of $23,000 and a fair market value of $45,000. Th e partnership has no liabiliti

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Sarah is a 25 percent partner in Tomahawk Partners. Her tax basis
in her partnership interest is $18,000. She received a non-liquidating distribution of land with a tax basis of $23,000 and a fair market value of $45,000. Th e partnership has no liabilities. What will be Sarah's tax basis in the land received in the non-liquidating distribution?
a. $18,000
b. $23,000
c. $45,000
d. zero
e. none of the above

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