Question: Same facts as #4. Partner Z contributes property with a $100,000 value and a basis of $60,000. Three months later, the partnership distributes $60,000 to

Same facts as #4. Partner Z contributes property with a $100,000 value and a basis of $60,000. Three months later, the partnership distributes $60,000 to Partner Z. The $60,000 can't be characterized as a reasonable guaranteed payment or a distribution of operating cash flow. What is the Z's outside basis in the partnership interest after treating the above transaction as a disguised sale

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