Question: Dan receives a proportionate current ( nonliquidating ) distribution when the basis of his partnership interest is $ 3 0 , 0 0 0 .

Dan receives a proportionate current (nonliquidating) distribution when the basis of

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 equipment with an adjusted basis to the partnership of $24,000 and a fair market value of $26,500. What is Dan's basis in the equipment?
his partnership interest is $30,000. The distribution consists of $10,000 in cash

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