Corey O. Graff is a

30%

partner in a general partnership, and his outside basis is

$22,000

. The general partnership has no liabilities.\ On October 15 , the general partnership distributes cash of

$10,000

, inventory of

$14,000

(basis of

$7,000

), and a building of

$8,000

(basis of

$13,000

) to Corey 0 . Graff in complete liquidation of his interest.\ Choose all of the correct answers.\ Corey O. Graff's basis in the building will be

$5,000

\ Corey O. Graff recognizes a capital gain of

$8,000

\ Corey O. Graff's basis in the inventory is

$7,000

\ If Corey O. Graff later sells the building for

$16,000

, his recognized capital gain will be

$11,000

\ Corey O. Graff has a realized gain on liquidation of

$10,000

Corey O. Graff is a 30% partner in a general partnership, and his outside basis is $22,000. The general partnership has no liabilities. On October 15, the general partnership distributes cash of $10,000, inventory of $14,000 (basis of $7,000), and a building of $8,000 (basis of $13,000) to Corey O. Graff in complete liquidation of his interest. Choose all of the correct answers. Corey O. Graff's basis in the building will be $5,000 Corey O. Graff recognizes a capital gain of $8,000 Corey O. Graff's basis in the inventory is $7,000 If Corey O. Graff later sells the building for $16,000, his recognized capital gain will be $11,000 Corey O. Graff has a realized gain on liquidation of $10,000