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The WXYZ partnership has the two assets shown in table before its liquidating distribution to partner...

The WXYZ partnership has the two assets shown in table before its liquidating distribution to partner W. If partner W with a $3,000 basis in her 25% interest receives $10,000 of capital assets, what basis will W have in the capital assets as a result of the liquidation?

Assets          Basis       Value

Accounts Receivable           $0           $20,000

capital assets                   12,000       20,000

Total                                   $12,000     $40,000

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