Marcella has a $$65,000$ basis in her $50\%$ partnership interest in the JM Partnership before receiving any distributions. This year JM makes a nonliquidating distribution to Marcella of $$10,000$ cash and inventory with an $$80,000$ fair value and a $$40,000$ basis to JM$.$ What is Marcella's basis in the inventory and her remaining basis in JM after the distribution?

Group of answer choices

$$80,000$ inventory basis, $$0$ JM basis

$$40,000$ inventory basis, $$0$ JM basis

$$40,000$ inventory basis, $$15,000$ JM basis

$$80,000$ inventory basis, $$15,000$ JM basis

Group of answer choices

Neither partner recognizes any gain or loss.

Each partner recognizes $$20,000$ ordinary income.

Sam recognizes $$20,000$ ordinary income and Fred recognizes no gain or loss.

Sam recognizes $$20,000$ ordinary income and Fred recognizes $$14,000$ capital gain.Sam and Fred form the SF Partnership.$$ Sam transfers $$20,000$ services and Fred transfers land $($held for investment$)$ with a basis of $$6,000$ and a FMV of $$40,000.$ Both Sam and Fred receive a $50\%$ capital and $50\%$ profits interest. What are the tax implications?

Group of answer choices

Neither partner recognizes any gain or loss.

Each partner recognizes $$20,000$ ordinary income.

Sam recognizes $$20,000$ ordinary income and Fred recognizes no gain or loss.

Sam recognizes $$20,000$ ordinary income and Fred recognizes $Sam and Fred form the SF Partnership.$$ Sam transfers $$20,000$ services and Fred transfers land $($held for investment$)$ with a basis of $$6,000$ and a FMV of $$40,000.$ Both Sam and Fred receive a $50\%$ capital and $50\%$ profits interest. What are the tax implications?

Sam and Fred form the SF Partnership.$$ Sam transfers $$20,000$ services and Fred transfers land $($held for investment$)$ with a basis of $$6,000$ and a FMV of $$40,000.$ Both Sam and Fred receive a $50\%$ capital and $50\%$ profits interest. What are the tax implications?

Group of answer choices

Neither partner recognizes any gain or loss.

Each partner recognizes $$20,000$ ordinary income.

Sam recognizes $$20,000$ ordinary income and Fred recognizes no gain or loss.

Sam recognizes $$20,000$ ordinary income and Fred recognizes $$14,000$ capital gain.