Question: Partner A is a 25% partner, and has a basis in her interest and capital account balance of $400,000. She is DISTRIBUTED some land (FMV

Partner A is a 25% partner, and has a basis in her interest and capital account balance of $400,000. She is DISTRIBUTED some land (FMV = $200,000, basis = $120,000, book value = $120,000, liability attached = $80,000) by the partnership. How much are her book capital account and basis afterward?

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