When Magdalena's outside basis is $ 1 2 5 , 0 0 0 , she receives a

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Question:

When Magdalena's outside basis is $

125, 000,

she receives a liquidating distribution of $

31, 250

cash and a proportionate share of inventory having a partnership basis of $

43, 750

and a fair market value of $

50, 000 .

The distribution results in a liquidation of both the partnership and her interest.

.

How much is Magdalena's basis in the inventory received?

.

What is the amount of any gain or loss recognized on the liquidation?

Posted Date: May 18, 2024 03:11 PM

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When Magdalena's outside basis is $ 1 2 5 , 0 0 0 , she receives a

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