Question: o Enter problem statement appropriate input type, and other instructions here Francine has basis in her general partnership Interest of $40,000In a liquidating distribution, she

 o Enter problem statement appropriate input type, and other instructions here

o Enter problem statement appropriate input type, and other instructions here Francine has basis in her general partnership Interest of $40,000In a liquidating distribution, she receives and with a fair market value of $75,000 and a tax basis of $30,000. In addition ather the detribution she is no longer a parter and is no longer able for partnership dott. Her share of partnership debt immediately before the liquidating chatribution was $20,000. As a uit of the liquidating distribution what gain must cogniture and what is herbasis in the land? O A No gain recognized as in and $30,000 OB Gain recognized $35,000, bis in and $75,000 O No gain recognized, bussin tand 580,000 OD. Negain marind, basis inland 140,000

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