Sally contributes a television from her home to a newly formed accounting partnership. Sally’s basis is $3,000 and the fair market value of the TV at…

51.Sally contributes a television from her home to a newly formed accounting partnership. Sally’s basis is $3,000 and the fair market value of the TV at the time of the contribution is $500. Assuming Sally made no other contributions, what isSally’s basis in her partnership interest?

a. $4,000 b. $3,000 c. $5,000 d. $500