Which is the correct answer

Question 18 Topic: Business Tax Taxpayer A and B formed a partnership to construct an apartment building on December 1, 2024. Taxpayer A contributed $1,000,000 cash and Taxpayer B contributed land ($1,000,000 fair market value and $500,000 basis) in exchange for a 50% interest in AB Partnership. On December 30, 2024, the partnership borrowed $1,000,000 from a local bank to begin co nstruction. Taxpayer A is a general partner and Taxpayer B is a limited partner. What is the tax basis of Taxpayer A at the end of 2024? A $1,500,000 B) $2,000,000 C) $1,750,000 D $100,000 ta Q Search