I have a question that concerns with calculating a partners basis for tax purposes. If a partner distributes a 40%

share of the partnership to his daughter, what is her basis. The father will distribute a 40% share of a business  that is worth $53,000,000 by gifting his daughter stocks that he owns with a basis of $1,200,000 that is now worth $5,000,000. Should his contribution be $21,200,000 to Mandy to establish a 40% share for her. Also, if he gives her the stock what would her basis be for the stocks

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