Question: Penny completely terminates her partnership interest when heroutside basis = $90,000. She receives a liquidating distribution ofcash = $20,000 and inventory with a basis =

Penny completely terminates her partnership interest when heroutside basis = $90,000. She receives a liquidating distribution ofcash = $20,000 and inventory with a basis = $24,000. If Penny alsorec 2 answers

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