Question: On January 3 0 , 2 0 2 4 , Kate transferred a capital asset in exchange for a one - half interest in Hawkinsville

On January 30,2024, Kate transferred a capital asset in exchange for a one-half interest in Hawkinsville LLC. The asset has an adjusted basis to Kate of $20,000 and a fair market value of $55,000. She acquired the asset on February 2,2020. What is Kate's basis in Hawkinsville LLC? When does the LLC's holding period for the capitalasset begin?$55,000; January 30,2024$55.000; February 2,2020$20.000; January 30,2024$20.000; February 2,2020

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