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If a partner distributes a 40% share of the partnership to his daughter, what is her basis

If a partner distributes a 40% share of the partnership to his daughter, what is her basis

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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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