Question: can anyone help me solve this? Problem 21.46 (LO 21-4) (Algo) [The following information applies to the questions displayed below] The Taurin Partnership (a calendar-year-end
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Problem 21.46 (LO 21-4) (Algo) [The following information applies to the questions displayed below] The Taurin Partnership (a calendar-year-end entity) has the following assets as of December 31 of the current year: On December 31 , Taurin distributes $16,440 of cash, $10,960 (FMV) of accounts receivable, and $42,520 (FMV) of inventory to Emma (o one-third partner) in termination of her partnership interest Emma's bosis in her partnership interest immediately prior to the distribution is $43,180. Problem 21-46 Part b (Algo) b. What is Emma's basis in the distributed assets? Note: Round your intermediate and final answers to the nearest whole dollar amount. Required: c1. If Emma's basis before the distribution was $59,530 rather than $43,180, what is Emma's recognized gain or loss? c2. What is her basis in the distributed assets? Complete this question by entering your answers in the tabs below. What is her basis in the distributed assets? Note: Do not round intermedlate calculations. Round your final answers to the nearest whole dollar amount
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