Roxanne Contributes Land to the RB Partnership in Exchange for a 40

Roxanne contributes land to the RB Partnership in exchange for a 40% interest.The land has an adjusted basis and fair market value of $75,000 and is subject to a liability of $25,000,which the partnership assumes.None of this liability is repaid at year-end.At the end of the year,the partnership has trade accounts payable of $30,000.Assume all liabilities are allocated proportionately to the partners.Total partnership income for the year is $100,000.Roxanne's basis in her partnership interest at the end of the year is $112,000.