27. LO.2 In each of the following independent cases, indicate: Whether the partner recognizes gain or loss. Whether the partnership recognizes gain or loss. The partner's adjusted basis for the property distributed. The partner's outside basis in the partnership after the distribution In each case, assume the partnership owns no hot assets. If you prepared the spreadsheet template in Problem 26, use that spreadsheet to answer the questions. Otherwise, show your calculations in Microsoft Excel. a. Kim receives $20,000 cash in partial liquidation of her interest in the partner ship. Kim's outside basis for her partnership interest immediately before the distribution is $3,000. b. Kourtni receives $40,000 cash and land with an inside basis to the partnership of $30,000 (value of $50,000) in partial liquidation of her interest. Kourtni's outside basis for her partnership interest immediately before the distribution is $80,000. Assume the same facts as in part (b), except that Kourtni's outside basis for her partnership interest immediately before the distribution is $60,000. Klois receives $50,000 cash and inventory with a basis of $30,000 and a fair market value of $50,000 in partial liquidation of her partnership interest. Her basis was $90,000 before the distribution. All partners received proportionate distributions. 28. LO.9 Assume the facts of Problem 27. For each of parts (a) through (d) considered independently, are additional planning opportunities available to the partner- ship to maximize its inside basis in its assets? If so, by how much can the basis be increased? What is the effect of any basis increase to the distributee partner or the other partners? 27. LO.2 In each of the following independent cases, indicate: Whether the partner recognizes gain or loss. Whether the partnership recognizes gain or loss. The partner's adjusted basis for the property distributed. The partner's outside basis in the partnership after the distribution In each case, assume the partnership owns no hot assets. If you prepared the spreadsheet template in Problem 26, use that spreadsheet to answer the questions. Otherwise, show your calculations in Microsoft Excel. a. Kim receives $20,000 cash in partial liquidation of her interest in the partner ship. Kim's outside basis for her partnership interest immediately before the distribution is $3,000. b. Kourtni receives $40,000 cash and land with an inside basis to the partnership of $30,000 (value of $50,000) in partial liquidation of her interest. Kourtni's outside basis for her partnership interest immediately before the distribution is $80,000. Assume the same facts as in part (b), except that Kourtni's outside basis for her partnership interest immediately before the distribution is $60,000. Klois receives $50,000 cash and inventory with a basis of $30,000 and a fair market value of $50,000 in partial liquidation of her partnership interest. Her basis was $90,000 before the distribution. All partners received proportionate distributions. 28. LO.9 Assume the facts of Problem 27. For each of parts (a) through (d) considered independently, are additional planning opportunities available to the partner- ship to maximize its inside basis in its assets? If so, by how much can the basis be increased? What is the effect of any basis increase to the distributee partner or the other partners