Business, 21.12.2019 02:31 4300224102

Pablo has a $63,000 basis in his partnership interest. on may 9 of the current tax year, the partnership distributes to him, in a proportionate nonliquidating distribution, cash of $25,000, cash basis receivables with an inside basis of $0 and a fair market value of $16,000, and land with a basis and fair market value to the partnership of $80,000.

if an amount is zero, enter "0".

a. how much is pablo’s realized and recognized gain on the distribution?
pablo has a realized gain on the distribution of $ and a recognized gain of $

b. what is pablo’s basis in the receivables, land, and partnership interest following the distribution?
the receivables have a basis of $ and the land has a basis of $ to pablo. his basis in partnership interests after the distributions is $

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Pablo has a $63,000 basis in his partnership interest. on may 9 of the current tax year, the partner...