What is the effect on the acb of her partnership interest

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Problem

Abigail is a partner in the Perce Partnership. She owns vacant land that is capital property and in a perfect location for a building the partnership wants to construct. She sells the land to the partnership in exchange for $ 100,000 in cash. The land cost her $ 45,100, and the FMV is $ 95,400. Get the instant assignment help. What is the effect on the ACB of her partnership interest?

Reference no: EM133921731

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