Chen contributes a building worth $160,000 (adjusted basis $180,000)and $40,000 in services to a partnership for a partnership interest.Chen's basis in the partnership interest is
A)$160,000.
B)$180,000.
C)$200,000.
D)$220,000.

Question

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The Answer of Chen contributes a building worth $160,000 (adjusted basis $180,000)and $40,000 in services to a partnership for a partnership interest.Chen's basis in the partnership interest is
A)$160,000.
B)$180,000.
C)$200,000.
D)$220,000.

Chen Contributes a Building Worth $160,000 (Adjusted Basis $180,000)and $40,000