- Required information Problem 10-47 (LO 10-4) (Algo) [The following information applies to the questions displayed...

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- Required information Problem 10-47 (LO 10-4) (Algo) [The following information applies to the questions displayed below.] Melissa, Nicole, and Miguel are equal partners in the Opto Partnership (a calendar-year-end entity). Melissa decides she wants to exit the partnership and receives a proportionate distribution to liquidate her partnership interest on January 1. The partnership has no liabilities and holds the following assets as of January 1: Cash Accounts receivable Stock investment Land Totals Tax Basis FMV $ 19,170 $ 19,170 0 25,560 8,280 33,900 13,950 43,800 $ 61,350 $ 102,480 Melissa receives one-third of each of the partnership assets. She has a basis in her partnership interest of $27,535. Note: Leave no answer blank. Enter zero if applicable. Problem 10-47 Part b (Algo) b. What is Melissa's basis in the distributed assets? Basis Cash $ 6,390 Accounts receivable $ 0 Stock investment Land - Required information Problem 10-47 (LO 10-4) (Algo) [The following information applies to the questions displayed below.] Melissa, Nicole, and Miguel are equal partners in the Opto Partnership (a calendar-year-end entity). Melissa decides she wants to exit the partnership and receives a proportionate distribution to liquidate her partnership interest on January 1. The partnership has no liabilities and holds the following assets as of January 1: Cash Accounts receivable Stock investment Land Totals Tax Basis FMV $ 19,170 $ 19,170 0 25,560 8,280 33,900 13,950 43,800 $ 61,350 $ 102,480 Melissa receives one-third of each of the partnership assets. She has a basis in her partnership interest of $27,535. Note: Leave no answer blank. Enter zero if applicable. Problem 10-47 Part b (Algo) b. What is Melissa's basis in the distributed assets? Basis Cash $ 6,390 Accounts receivable $ 0 Stock investment Land