Jamie decides to contribute cash and property to a partnership she and her friends started. She contributes a building worth $260,000 that she purchased for $100,000 and she also contributes $40,000 in cash. What is her basis in the partnership?
A) $100,000
B) $140,000
C) $260,000
D) $300,000
E) None of the above is correct
Correct Answer:
Verified
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