Question: Ella exchanges land ( basis $ 3 0 , 0 0 0 , value $ 4 5 , 0 0 0 ) for a 2
Ella exchanges land basis $ value $ for a partnership interest. The land was subject to a debt of $a How much gain or loss does she recognize? b What's her basis in her interest outside basisc What's the partnership's basis in the land?
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