Question: Leo contributed $ 2 8 , 0 0 0 in cash for a 2 5 % interest as a limited partner in a partnership. He

Leo contributed $28,000 in cash for a 25% interest as a limited partner in a partnership. He also contributed property with an adjusted basis of $30,000, with a recourse liability of $10,000. What is Leo's basis in the partnership?
$58,000
$50,500
$48,000
$28,000
Leo contributed $28,000 in cash for a 25% interest as a

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