Mr. A, Mr. B, and Mr. C formed a calendar-year partnership. Profits and losses are to be shared equally. Mr. A contributed a building to be used in the business that had an adjusted basis to him of $10,000 and a fair market value of $13,000. The partnership also assumed Mr. A's $6,000 mortgage on the building. Mr. B and Mr. C each contributed $4,000 in cash to the partnership's capital. What is the partnership's basis for determining depreciation on the building? A. $13,000 B. $4,000 C. $10,000 D. $0
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