107)Katrina is a one-third partner in the KYR Partnership (calendar year-end). Katrina decides she wants to exit the partnership and receives a proportionate distribution to liquidate her partnership interest on January 1. The partnership has no liabilities and holds the following assets as of January 1:

Basis FMV

Cash $ 180,000 $ 180,000

Accounts receivable 0 240,000

Stock investment 75,000 120,000

Land 300,000 360,000

Totals $ 555,000 $ 900,000

Katrina receives one-third of each of the partnership assets. She has a basis in her partnership interest of $250,000. What is the amount and character of any recognized gain or loss to Katrina? What is Katrina's basis in the distributed assets

108)Katrina is a one-third partner in the KYR Partnership (calendar year-end). Katrina decides she wants to exit the partnership and receives a proportionate distribution to liquidate her partnership interest on January 1. The partnership has no liabilities and holds the following assets as of January 1:

Basis FMV

Cash $ 180,000 $ 180,000

Accounts receivable 0 240,000

Stock investment 75,000 120,000

Land 300,000 360,000

Totals $ 555,000 $ 900,000

Katrina receives one-third of each of the partnership assets. She has a basis in her partnership interest of $110,000. What is the amount and character of any recognized gain or loss to Katrina? What is Katrina's basis in the distributed assets?

please: 1 i need to see the whole calculation to understand the number how to allocated.

2. check the calculation answers. ( if your calculation is not correct, but you give me correct answers. it will confuse a new learner )

3. i need each assets basis. like ( cash , AR , stock and land). please don't give me a basis of the total, i know how to do total, now i need to see how to allocate the basis.

thank you !