Question

Complete the table. Follow the Key for explanations of the abbreviations.

Basis – Int is the partner’s basis before the distribution

Cash is the amount of money received in the distribution

CA – Basis is the basis of any capital asset(s) received in the distribution

Inv – Basis is the basis of any inventory received in the distribution

L or NL means the distribution either liquidates (L) or does not liquidate (NL) the partner’s interest

Partner gain is the amount of any gain OR LOSS (enter loss as < > recognized by the partner

Basis – cash is the basis assigned to any cash distributed

Basis – CA is the basis assigned to any capital asset distributed

Basis – Inv is the basis assigned to any inventory distributed

§734 means the dollar amount (negative numbers are entered with < >) of any §734 adjustment

IF A CELL IS EMPTY IT MEANS THERE WAS NO SUCH PROPERTY INVOLVED IN THE DISTRIBUTION

Basis - Int	Cash	CA - Basis	Inv - Basis	L or NL	Partner gain	Basis - cash	Basis - CA	Basis - Inv	§734?
100,000	50,000			NL
100,000	50,000			L
100,000	150,000			NL
100,000	50,000	125,000		NL
100,000	50,000	25,000		NL
100,000	50,000	25,000		L
100,000	50,000		125,000	NL
100,000	50,000		25,000	NL
100,000	50,000		25,000	L
100,000	50,000	25,000	125,000	NL
100,000	50,000	25,000	125,000	L
100,000	50,000	125,000	25,000	NL
100,000	50,000	125,000	25,000	L
100,000			125,000	NL
100,000			125,000	L

Answer 1

Basis - Int	Cash	CA - Basis	Inv - Basis	L or NL	Partner gain	Basis - cash	Basis - CA	Basis - Inv	§734?
100,000	50,000			NL	<>50000	50%
100,000	50,000			L	<>50000	50%			<>50000
100,000	150,000			NL	50000	150%
100,000	50,000	125,000		NL	75000	50%	125%
100,000	50,000	25,000		NL	<>25000	50%	25%
100,000	50,000	25,000		L	<>25000	50%	25%		<>25000
100,000	50,000		125,000	NL	75000	50%		125%
100,000	50,000		25,000	NL	<>25000	50%		25%
100,000	50,000		25,000	L	<>25000	50%		25%	<>25000
100,000	50,000	25,000	125,000	NL	100000	50%	25%	125%
100,000	50,000	25,000	125,000	L	100000	50%	25%	125%	200000
100,000	50,000	125,000	25,000	NL	100000	50%	125%	25%
100,000	50,000	125,000	25,000	L	100000	50%	125%	25%	200000
100,000			125,000	NL	25000			125%
100,000			125,000	L	25000			125%	25000