Two years ago, Kimberly became a 30% partner in the KST Partnership with a contribution of investment

Question:

Two years ago, Kimberly became a 30% partner in the KST with a contribution of investment land with a $10,000 basis and $16,000 fair market value. On January 2 of this year, Kimberly has a $15,000 basis in her interest and none of her pre-contribution gain has been recognized. On January 2, Kimberly receives an operating of a tract of land (not the contributed land) with a $12,000 basis and an $18,000 fair market value.
a. What is the amount and character of Kimberly's recognized gain or loss on the What is Kimberly's remaining basis in KST after the What is KST's basis in the land Kimberly contributed after Kimberly receives this Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...