Question: Partnership Formation ( LO 1 0 . 2 ) Nan contributes property with an adjusted basis of $ 5 0 , 0 0 0 to

Partnership Formation (LO 10.2)
Nan contributes property with an adjusted basis of $50,000 to a partnership. The property has a fair market value of $60,000 on the date of the contribution.
What is the partnership's basis in the property contributed by Nan?
Partnership Formation ( LO 1 0 . 2 ) Nan

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