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In a Proportionate Liquidating Distribution in Which the Partnership Is

Question 144

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In a proportionate liquidating distribution in which the partnership is liquidated, Marcus received cash of $60,000, inventory (basis of $10,000, fair market value of $12,000), and a capital asset (basis and fair market value of $22,000).Immediately before the distribution, Marcus's basis in the partnership interest was $100,000.
In a proportionate liquidating distribution in which the partnership is liquidated, Marcus received cash of $60,000, inventory (basis of $10,000, fair market value of $12,000), and a capital asset (basis and fair market value of $22,000).Immediately before the distribution, Marcus's basis in the partnership interest was $100,000.

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