s $1,800, and land in whic as $25,000. s on the distribution?
Chapter4: Corporations: Organization And Capital Structure
Section: Chapter Questions
Problem 19CE
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Please solve part C
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In a liquidating distribution Ann receives cash of $3,000, inventory in which the
partnership's basis was $1,800, and land in which the partnership's basis was $10,000. Her
basis in her interest was $25,000.
What's her gain or loss on the distribution?
What's her basis in the inyentory?
What's her basis in the land?
Now suppose only the cash and inventory were distributed and not the land-how much
gain or loss wvould she have and what would her basis in the inventory be?
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