SlideShare a Scribd company logo
Week 5 mini-questions
Javier is retiring from the JKL Partnership. In January of the
current year, he has a $100,000 basis in his partnership interest
when he receives a$10,000 cash distribution. The partnership
plans to distribute $10,000 each month this year, and Javier will
cease to be a partner after the December payment. Is the
January payment to Javier
a current distribution or a liquidating distribution?
§
Lia has a $40,000 basis in her partnership interest just before
receiving a parcel of land as a non-liquidating (current)
distribution. The partnership purchased the land, and Lia has no
pre-contribution gain. Under what conditions will Lia's basis in
the land be $40,000? Under what conditions will Lia's basis in
the land be a carryover basis from the partnership's basis in the
land?
Interest before receiving a non-liquidating (current) distribution
of property having a $4,500 basis and a $6,000 FMV from the
CDE Partnership. Cindy has a choice of receiving either
inventory or a capital asset. She will hold the distributed
property as an investment for no more than two years before she
sells it. What tax difference (if any) will occur because of
Cindy's selection of one property or the other to be distributed
by the partnership?
Mariel has a $60,000 basis in her partnership interest just
before receiving a parcel of land as a liquidating distribution.
She has no remaining pre-contribution gain and will receive no
other distributions. Under what conditions will Mariel's basis in
the land be $60,000?
Week 5 mini-questionsJavier is retiring from the JKL Partnership.docx

More Related Content

More from co4spmeley

Week 4Team Building Please respond to the followingReflect on.docx
Week 4Team Building Please respond to the followingReflect on.docxWeek 4Team Building Please respond to the followingReflect on.docx
Week 4Team Building Please respond to the followingReflect on.docx
co4spmeley
 
Week 4 Quiz1.According to a study cited by the U.S. Census.docx
Week 4 Quiz1.According to a study cited by the U.S. Census.docxWeek 4 Quiz1.According to a study cited by the U.S. Census.docx
Week 4 Quiz1.According to a study cited by the U.S. Census.docx
co4spmeley
 
Week 5 Discussion - Restructuring Decisions & CommunityAlmost all .docx
Week 5 Discussion - Restructuring Decisions & CommunityAlmost all .docxWeek 5 Discussion - Restructuring Decisions & CommunityAlmost all .docx
Week 5 Discussion - Restructuring Decisions & CommunityAlmost all .docx
co4spmeley
 
Week 4 Homework QuestionsQuestions 1 and 2 were taken directly f.docx
Week 4 Homework QuestionsQuestions 1 and 2 were taken directly f.docxWeek 4 Homework QuestionsQuestions 1 and 2 were taken directly f.docx
Week 4 Homework QuestionsQuestions 1 and 2 were taken directly f.docx
co4spmeley
 
Week 4 Project - STAT 3001Student Name Date.docx
Week 4 Project - STAT 3001Student Name Date.docxWeek 4 Project - STAT 3001Student Name Date.docx
Week 4 Project - STAT 3001Student Name Date.docx
co4spmeley
 
Week 6 - Discussion 1 Your initial discussion thread is .docx
Week 6 - Discussion 1 Your initial discussion thread is .docxWeek 6 - Discussion 1 Your initial discussion thread is .docx
Week 6 - Discussion 1 Your initial discussion thread is .docx
co4spmeley
 
Week 4 Forum ModernismDUE WED 123015 9PMPart I Identif.docx
Week 4 Forum ModernismDUE WED 123015 9PMPart I Identif.docxWeek 4 Forum ModernismDUE WED 123015 9PMPart I Identif.docx
Week 4 Forum ModernismDUE WED 123015 9PMPart I Identif.docx
co4spmeley
 
Week 4 assignment is due 1916Writea summary of no more than .docx
Week 4 assignment is due 1916Writea summary of no more than .docxWeek 4 assignment is due 1916Writea summary of no more than .docx
Week 4 assignment is due 1916Writea summary of no more than .docx
co4spmeley
 
Week 4 - AssignmentCreating a Unit Plan Once you’ve gotten.docx
Week 4 - AssignmentCreating a Unit Plan Once you’ve gotten.docxWeek 4 - AssignmentCreating a Unit Plan Once you’ve gotten.docx
Week 4 - AssignmentCreating a Unit Plan Once you’ve gotten.docx
co4spmeley
 
Week 3 Whats My Style PresentationWeek 3 Whats My Style Pr.docx
Week 3 Whats My Style PresentationWeek 3 Whats My Style Pr.docxWeek 3 Whats My Style PresentationWeek 3 Whats My Style Pr.docx
Week 3 Whats My Style PresentationWeek 3 Whats My Style Pr.docx
co4spmeley
 
Week 3 readings and videosWrite a 350- to 700-word paper in whic.docx
Week 3 readings and videosWrite a 350- to 700-word paper in whic.docxWeek 3 readings and videosWrite a 350- to 700-word paper in whic.docx
Week 3 readings and videosWrite a 350- to 700-word paper in whic.docx
co4spmeley
 
Week 3 Homework Questions1)The following questions are based.docx
Week 3 Homework Questions1)The following questions are based.docxWeek 3 Homework Questions1)The following questions are based.docx
Week 3 Homework Questions1)The following questions are based.docx
co4spmeley
 
Week 3 DiscussionThink about products you were enticed to purcha.docx
Week 3 DiscussionThink about products you were enticed to purcha.docxWeek 3 DiscussionThink about products you were enticed to purcha.docx
Week 3 DiscussionThink about products you were enticed to purcha.docx
co4spmeley
 
Week 3 Discussion 1IT Strategies Please respond to the following.docx
Week 3 Discussion 1IT Strategies Please respond to the following.docxWeek 3 Discussion 1IT Strategies Please respond to the following.docx
Week 3 Discussion 1IT Strategies Please respond to the following.docx
co4spmeley
 
Week 3 Assignment  (6 points)Role Playing Exercise- Your supervi.docx
Week 3 Assignment  (6 points)Role Playing Exercise- Your supervi.docxWeek 3 Assignment  (6 points)Role Playing Exercise- Your supervi.docx
Week 3 Assignment  (6 points)Role Playing Exercise- Your supervi.docx
co4spmeley
 
Week 3 Assignment 1 SubmissionClick the link above to submit you.docx
Week 3 Assignment 1 SubmissionClick the link above to submit you.docxWeek 3 Assignment 1 SubmissionClick the link above to submit you.docx
Week 3 Assignment 1 SubmissionClick the link above to submit you.docx
co4spmeley
 
Week 2 Quiz1.According to Peter Berger and Thomas Luck.docx
Week 2 Quiz1.According to Peter Berger and Thomas Luck.docxWeek 2 Quiz1.According to Peter Berger and Thomas Luck.docx
Week 2 Quiz1.According to Peter Berger and Thomas Luck.docx
co4spmeley
 
Week 2 LeonLeon is a 52-year old man who describes his family.docx
Week 2 LeonLeon is a 52-year old man who describes his family.docxWeek 2 LeonLeon is a 52-year old man who describes his family.docx
Week 2 LeonLeon is a 52-year old man who describes his family.docx
co4spmeley
 
Week 2 DiscussionDesign Basics Used to Create BalanceThe Chine.docx
Week 2 DiscussionDesign Basics Used to Create BalanceThe Chine.docxWeek 2 DiscussionDesign Basics Used to Create BalanceThe Chine.docx
Week 2 DiscussionDesign Basics Used to Create BalanceThe Chine.docx
co4spmeley
 
Week 2 Discussion 2 Introduction to Healthcare AssignmentDeliver.docx
Week 2 Discussion 2 Introduction to Healthcare AssignmentDeliver.docxWeek 2 Discussion 2 Introduction to Healthcare AssignmentDeliver.docx
Week 2 Discussion 2 Introduction to Healthcare AssignmentDeliver.docx
co4spmeley
 

More from co4spmeley (20)

Week 4Team Building Please respond to the followingReflect on.docx
Week 4Team Building Please respond to the followingReflect on.docxWeek 4Team Building Please respond to the followingReflect on.docx
Week 4Team Building Please respond to the followingReflect on.docx
 
Week 4 Quiz1.According to a study cited by the U.S. Census.docx
Week 4 Quiz1.According to a study cited by the U.S. Census.docxWeek 4 Quiz1.According to a study cited by the U.S. Census.docx
Week 4 Quiz1.According to a study cited by the U.S. Census.docx
 
Week 5 Discussion - Restructuring Decisions & CommunityAlmost all .docx
Week 5 Discussion - Restructuring Decisions & CommunityAlmost all .docxWeek 5 Discussion - Restructuring Decisions & CommunityAlmost all .docx
Week 5 Discussion - Restructuring Decisions & CommunityAlmost all .docx
 
Week 4 Homework QuestionsQuestions 1 and 2 were taken directly f.docx
Week 4 Homework QuestionsQuestions 1 and 2 were taken directly f.docxWeek 4 Homework QuestionsQuestions 1 and 2 were taken directly f.docx
Week 4 Homework QuestionsQuestions 1 and 2 were taken directly f.docx
 
Week 4 Project - STAT 3001Student Name Date.docx
Week 4 Project - STAT 3001Student Name Date.docxWeek 4 Project - STAT 3001Student Name Date.docx
Week 4 Project - STAT 3001Student Name Date.docx
 
Week 6 - Discussion 1 Your initial discussion thread is .docx
Week 6 - Discussion 1 Your initial discussion thread is .docxWeek 6 - Discussion 1 Your initial discussion thread is .docx
Week 6 - Discussion 1 Your initial discussion thread is .docx
 
Week 4 Forum ModernismDUE WED 123015 9PMPart I Identif.docx
Week 4 Forum ModernismDUE WED 123015 9PMPart I Identif.docxWeek 4 Forum ModernismDUE WED 123015 9PMPart I Identif.docx
Week 4 Forum ModernismDUE WED 123015 9PMPart I Identif.docx
 
Week 4 assignment is due 1916Writea summary of no more than .docx
Week 4 assignment is due 1916Writea summary of no more than .docxWeek 4 assignment is due 1916Writea summary of no more than .docx
Week 4 assignment is due 1916Writea summary of no more than .docx
 
Week 4 - AssignmentCreating a Unit Plan Once you’ve gotten.docx
Week 4 - AssignmentCreating a Unit Plan Once you’ve gotten.docxWeek 4 - AssignmentCreating a Unit Plan Once you’ve gotten.docx
Week 4 - AssignmentCreating a Unit Plan Once you’ve gotten.docx
 
Week 3 Whats My Style PresentationWeek 3 Whats My Style Pr.docx
Week 3 Whats My Style PresentationWeek 3 Whats My Style Pr.docxWeek 3 Whats My Style PresentationWeek 3 Whats My Style Pr.docx
Week 3 Whats My Style PresentationWeek 3 Whats My Style Pr.docx
 
Week 3 readings and videosWrite a 350- to 700-word paper in whic.docx
Week 3 readings and videosWrite a 350- to 700-word paper in whic.docxWeek 3 readings and videosWrite a 350- to 700-word paper in whic.docx
Week 3 readings and videosWrite a 350- to 700-word paper in whic.docx
 
Week 3 Homework Questions1)The following questions are based.docx
Week 3 Homework Questions1)The following questions are based.docxWeek 3 Homework Questions1)The following questions are based.docx
Week 3 Homework Questions1)The following questions are based.docx
 
Week 3 DiscussionThink about products you were enticed to purcha.docx
Week 3 DiscussionThink about products you were enticed to purcha.docxWeek 3 DiscussionThink about products you were enticed to purcha.docx
Week 3 DiscussionThink about products you were enticed to purcha.docx
 
Week 3 Discussion 1IT Strategies Please respond to the following.docx
Week 3 Discussion 1IT Strategies Please respond to the following.docxWeek 3 Discussion 1IT Strategies Please respond to the following.docx
Week 3 Discussion 1IT Strategies Please respond to the following.docx
 
Week 3 Assignment  (6 points)Role Playing Exercise- Your supervi.docx
Week 3 Assignment  (6 points)Role Playing Exercise- Your supervi.docxWeek 3 Assignment  (6 points)Role Playing Exercise- Your supervi.docx
Week 3 Assignment  (6 points)Role Playing Exercise- Your supervi.docx
 
Week 3 Assignment 1 SubmissionClick the link above to submit you.docx
Week 3 Assignment 1 SubmissionClick the link above to submit you.docxWeek 3 Assignment 1 SubmissionClick the link above to submit you.docx
Week 3 Assignment 1 SubmissionClick the link above to submit you.docx
 
Week 2 Quiz1.According to Peter Berger and Thomas Luck.docx
Week 2 Quiz1.According to Peter Berger and Thomas Luck.docxWeek 2 Quiz1.According to Peter Berger and Thomas Luck.docx
Week 2 Quiz1.According to Peter Berger and Thomas Luck.docx
 
Week 2 LeonLeon is a 52-year old man who describes his family.docx
Week 2 LeonLeon is a 52-year old man who describes his family.docxWeek 2 LeonLeon is a 52-year old man who describes his family.docx
Week 2 LeonLeon is a 52-year old man who describes his family.docx
 
Week 2 DiscussionDesign Basics Used to Create BalanceThe Chine.docx
Week 2 DiscussionDesign Basics Used to Create BalanceThe Chine.docxWeek 2 DiscussionDesign Basics Used to Create BalanceThe Chine.docx
Week 2 DiscussionDesign Basics Used to Create BalanceThe Chine.docx
 
Week 2 Discussion 2 Introduction to Healthcare AssignmentDeliver.docx
Week 2 Discussion 2 Introduction to Healthcare AssignmentDeliver.docxWeek 2 Discussion 2 Introduction to Healthcare AssignmentDeliver.docx
Week 2 Discussion 2 Introduction to Healthcare AssignmentDeliver.docx
 

Recently uploaded

A Strategic Approach: GenAI in Education
A Strategic Approach: GenAI in EducationA Strategic Approach: GenAI in Education
A Strategic Approach: GenAI in Education
Peter Windle
 
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Dr. Vinod Kumar Kanvaria
 
Landownership in the Philippines under the Americans-2-pptx.pptx
Landownership in the Philippines under the Americans-2-pptx.pptxLandownership in the Philippines under the Americans-2-pptx.pptx
Landownership in the Philippines under the Americans-2-pptx.pptx
JezreelCabil2
 
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama UniversityNatural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
Akanksha trivedi rama nursing college kanpur.
 
Best Digital Marketing Institute In NOIDA
Best Digital Marketing Institute In NOIDABest Digital Marketing Institute In NOIDA
Best Digital Marketing Institute In NOIDA
deeptiverma2406
 
Assignment_4_ArianaBusciglio Marvel(1).docx
Assignment_4_ArianaBusciglio Marvel(1).docxAssignment_4_ArianaBusciglio Marvel(1).docx
Assignment_4_ArianaBusciglio Marvel(1).docx
ArianaBusciglio
 
2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...
Sandy Millin
 
A Survey of Techniques for Maximizing LLM Performance.pptx
A Survey of Techniques for Maximizing LLM Performance.pptxA Survey of Techniques for Maximizing LLM Performance.pptx
A Survey of Techniques for Maximizing LLM Performance.pptx
thanhdowork
 
PIMS Job Advertisement 2024.pdf Islamabad
PIMS Job Advertisement 2024.pdf IslamabadPIMS Job Advertisement 2024.pdf Islamabad
PIMS Job Advertisement 2024.pdf Islamabad
AyyanKhan40
 
Aficamten in HCM (SEQUOIA HCM TRIAL 2024)
Aficamten in HCM (SEQUOIA HCM TRIAL 2024)Aficamten in HCM (SEQUOIA HCM TRIAL 2024)
Aficamten in HCM (SEQUOIA HCM TRIAL 2024)
Ashish Kohli
 
Acetabularia Information For Class 9 .docx
Acetabularia Information For Class 9  .docxAcetabularia Information For Class 9  .docx
Acetabularia Information For Class 9 .docx
vaibhavrinwa19
 
DRUGS AND ITS classification slide share
DRUGS AND ITS classification slide shareDRUGS AND ITS classification slide share
DRUGS AND ITS classification slide share
taiba qazi
 
Digital Artefact 1 - Tiny Home Environmental Design
Digital Artefact 1 - Tiny Home Environmental DesignDigital Artefact 1 - Tiny Home Environmental Design
Digital Artefact 1 - Tiny Home Environmental Design
amberjdewit93
 
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdfUnit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Thiyagu K
 
PCOS corelations and management through Ayurveda.
PCOS corelations and management through Ayurveda.PCOS corelations and management through Ayurveda.
PCOS corelations and management through Ayurveda.
Dr. Shivangi Singh Parihar
 
Digital Artifact 1 - 10VCD Environments Unit
Digital Artifact 1 - 10VCD Environments UnitDigital Artifact 1 - 10VCD Environments Unit
Digital Artifact 1 - 10VCD Environments Unit
chanes7
 
The simplified electron and muon model, Oscillating Spacetime: The Foundation...
The simplified electron and muon model, Oscillating Spacetime: The Foundation...The simplified electron and muon model, Oscillating Spacetime: The Foundation...
The simplified electron and muon model, Oscillating Spacetime: The Foundation...
RitikBhardwaj56
 
Thesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.pptThesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.ppt
EverAndrsGuerraGuerr
 
CACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdfCACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdf
camakaiclarkmusic
 
Digital Artifact 2 - Investigating Pavilion Designs
Digital Artifact 2 - Investigating Pavilion DesignsDigital Artifact 2 - Investigating Pavilion Designs
Digital Artifact 2 - Investigating Pavilion Designs
chanes7
 

Recently uploaded (20)

A Strategic Approach: GenAI in Education
A Strategic Approach: GenAI in EducationA Strategic Approach: GenAI in Education
A Strategic Approach: GenAI in Education
 
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
 
Landownership in the Philippines under the Americans-2-pptx.pptx
Landownership in the Philippines under the Americans-2-pptx.pptxLandownership in the Philippines under the Americans-2-pptx.pptx
Landownership in the Philippines under the Americans-2-pptx.pptx
 
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama UniversityNatural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
 
Best Digital Marketing Institute In NOIDA
Best Digital Marketing Institute In NOIDABest Digital Marketing Institute In NOIDA
Best Digital Marketing Institute In NOIDA
 
Assignment_4_ArianaBusciglio Marvel(1).docx
Assignment_4_ArianaBusciglio Marvel(1).docxAssignment_4_ArianaBusciglio Marvel(1).docx
Assignment_4_ArianaBusciglio Marvel(1).docx
 
2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...
 
A Survey of Techniques for Maximizing LLM Performance.pptx
A Survey of Techniques for Maximizing LLM Performance.pptxA Survey of Techniques for Maximizing LLM Performance.pptx
A Survey of Techniques for Maximizing LLM Performance.pptx
 
PIMS Job Advertisement 2024.pdf Islamabad
PIMS Job Advertisement 2024.pdf IslamabadPIMS Job Advertisement 2024.pdf Islamabad
PIMS Job Advertisement 2024.pdf Islamabad
 
Aficamten in HCM (SEQUOIA HCM TRIAL 2024)
Aficamten in HCM (SEQUOIA HCM TRIAL 2024)Aficamten in HCM (SEQUOIA HCM TRIAL 2024)
Aficamten in HCM (SEQUOIA HCM TRIAL 2024)
 
Acetabularia Information For Class 9 .docx
Acetabularia Information For Class 9  .docxAcetabularia Information For Class 9  .docx
Acetabularia Information For Class 9 .docx
 
DRUGS AND ITS classification slide share
DRUGS AND ITS classification slide shareDRUGS AND ITS classification slide share
DRUGS AND ITS classification slide share
 
Digital Artefact 1 - Tiny Home Environmental Design
Digital Artefact 1 - Tiny Home Environmental DesignDigital Artefact 1 - Tiny Home Environmental Design
Digital Artefact 1 - Tiny Home Environmental Design
 
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdfUnit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdf
 
PCOS corelations and management through Ayurveda.
PCOS corelations and management through Ayurveda.PCOS corelations and management through Ayurveda.
PCOS corelations and management through Ayurveda.
 
Digital Artifact 1 - 10VCD Environments Unit
Digital Artifact 1 - 10VCD Environments UnitDigital Artifact 1 - 10VCD Environments Unit
Digital Artifact 1 - 10VCD Environments Unit
 
The simplified electron and muon model, Oscillating Spacetime: The Foundation...
The simplified electron and muon model, Oscillating Spacetime: The Foundation...The simplified electron and muon model, Oscillating Spacetime: The Foundation...
The simplified electron and muon model, Oscillating Spacetime: The Foundation...
 
Thesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.pptThesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.ppt
 
CACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdfCACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdf
 
Digital Artifact 2 - Investigating Pavilion Designs
Digital Artifact 2 - Investigating Pavilion DesignsDigital Artifact 2 - Investigating Pavilion Designs
Digital Artifact 2 - Investigating Pavilion Designs
 

Week 5 mini-questionsJavier is retiring from the JKL Partnership.docx

  • 1. Week 5 mini-questions Javier is retiring from the JKL Partnership. In January of the current year, he has a $100,000 basis in his partnership interest when he receives a$10,000 cash distribution. The partnership plans to distribute $10,000 each month this year, and Javier will cease to be a partner after the December payment. Is the January payment to Javier a current distribution or a liquidating distribution? § Lia has a $40,000 basis in her partnership interest just before receiving a parcel of land as a non-liquidating (current) distribution. The partnership purchased the land, and Lia has no pre-contribution gain. Under what conditions will Lia's basis in the land be $40,000? Under what conditions will Lia's basis in the land be a carryover basis from the partnership's basis in the land? Interest before receiving a non-liquidating (current) distribution of property having a $4,500 basis and a $6,000 FMV from the CDE Partnership. Cindy has a choice of receiving either inventory or a capital asset. She will hold the distributed property as an investment for no more than two years before she sells it. What tax difference (if any) will occur because of Cindy's selection of one property or the other to be distributed by the partnership? Mariel has a $60,000 basis in her partnership interest just before receiving a parcel of land as a liquidating distribution. She has no remaining pre-contribution gain and will receive no other distributions. Under what conditions will Mariel's basis in the land be $60,000?