1. What is Michael's basis in his partnership interest?

[The following Information applies to the questions displayed below.] Travis and Allx Weber are equal partners In the Tralix Partnership, which does not have a $754 election in place. Allx sells one-half of her Interest ( 25 percent) to Michael Tomel for $36,000 cash. Just before the sale, Alix's basis in her entire partnership Interest is $82,200, Including her $36,000 share of the partnership labilities. Trallx's assets on the sale date are as follows