Question: 21. Penny completely terminates her partnership interest whenher outside basis = $90,000. She receives a liquidatingdistribution of cash = $20,000 and inventory with a basis

21. Penny completely terminates her partnership interest whenher outside basis = $90,000. She receives a liquidatingdistribution of cash = $20,000 and inventory with a basis =$24,000. Penny:a. 2 answers

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