Randolph is a 30 percent partner in the RD Partnership. On January 1, RD distributes $15,000 cash, an investment with a fair value of $20,000 (inside basis of $10,000), and a parcel of land with a fair value of $10,000 (inside basis of $5,000) to Randolph in complete liquidation of his interest. RD has no liabilities at the date of the distribution. Randolph's basis in his RD Partnership interest is $48,000. What is Randolph's basis in the distributed investment and land? A) $10,000 investment, $5,000 land. B) $22,000 investment, $11,000 land. C) $20,000 investment, $10,000 land. D) $20,000 investment, $13,000 land.
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56) Randolph is a 30 percent partner in the RD Partnership. On January 1, RD distributes $15,000 cash, an investment with a fair value of $20,000 (inside basis of $10,000), and a parcel of land with a fair value of $10,000 (inside basis of $5,000) to Randolph in complete liquidation of his interest. RD has no liabilities at the date of the distribution. Randolph's basis in his RD Partnership interest is $48,000. What is Randolph's basis in the distributed investment and land?
A) $10,000 investment, $5,000 land.
B) $22,000 investment, $11,000 land.
C) $20,000 investment, $10,000 land.
D) $20,000 investment, $13,000 land.
the answer is B, but why ? i need detail calculation please
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