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MMLU-Pro / 5840 / Gulde’s tax basis in Chyme Partnership was …

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

Gulde’s tax basis in Chyme Partnership was 26,000atthetimeGuldereceivedaliquidatingdistributionof26,000 at the time Gulde received a liquidating distribution of 12,000 cash and land with an adjusted basis to Chyme of 10,000andafairmarketvalueof10,000 and a fair market value of 30,000. Chyme did not have unrealized receivables, appreciated inventory, or properties that had been contributed by its partners. What was the amount of Gulde’s basis in the land?
Plain-text mathematical notation (without MathML)
Gulde’s tax basis in Chyme Partnership was 26,000atthetimeGuldereceivedaliquidatingdistributionof12,000 cash and land with an adjusted basis to Chyme of 10,000andafairmarketvalueof30,000. Chyme did not have unrealized receivables, appreciated inventory, or properties that had been contributed by its partners. What was the amount of Gulde’s basis in the land?
Original LaTeX notation
Gulde’s tax basis in Chyme Partnership was $26,000 at the time Gulde received a liquidating distribution of $12,000 cash and land with an adjusted basis to Chyme of $10,000 and a fair market value of $30,000. Chyme did not have unrealized receivables, appreciated inventory, or properties that had been contributed by its partners. What was the amount of Gulde’s basis in the land?

category

other

options

  1. $28,000
  2. $30,000
  3. $14,000
  4. $24,000
  5. $10,000
  6. $26,000
  7. $20,000
  8. $0
  9. $16,000
  10. $12,000

src

ori_mmlu-professional_accounting

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Source and history

upstream_id / Original problem ID
5840
task_id
cbd661f1-a11d-5928-bdce-d09b813c6cc0
task_key
default--test--5840
task_revision_id
1
config / split
default / test

Official source

initial import