Travis and Alix Weber are equal partners in the Tralix Partnership, which does not have a §754 election in place. Alix sells one-half of her interest (25 percent) to Michael Tomei for $39,000 cash. Just before the sale, Alix’s basis in her entire partnership interest is $79,500, including her $39,000 share of the partnership liabilities. Tralix’s assets on the sale date are as follows:

		Tax Basis		FMV
Cash	$	48,100		$	48,100
Inventory		39,000			126,000
Land held for investment		84,500			53,600
Totals	$	171,600		$	227,700

b. What is Alix’s basis in her remaining partnership interest?

Basis:

c. What is Michael’s basis in his partnership interest?

Basis: