Carli contributes land to the newly formed CD Partnership in exchange for a 30% interest. The land has an adjusted basis and fair market value of $300,000 and is subject to a liability of $100,000, which the partnership assumes. of the year, the partnership has trade accounts payable of $20,000. Assume all a allocated proportionately to the partners. Total partnership income for the year is What is Carli's basis in her partnership interest at the end of the year? None of this liability is repaid at year-end. At the end $400,000
