Jaime Has a Basis in Her Partnership Interest of $50,000

Jaime has a basis in her partnership interest of $50,000 when the partnership distributes (in an operating distribution) two parcels of land to Jaime, each valued at $30,000. The basis in parcel A is $40,000 and the basis in parcel B is $20,000. Jaime allocates $20,000 of basis to parcel A and $30,000 of basis to parcel
B.
Basis is allocated based on the relative fair market values of the property according to §732(c).