3 Which of the following is both an item that is an allowable tax deduction to the partnership reported separately on the individual partner's Schedule K-1, and then included on the partner's individual tax return? a. Guaranteed payments paid to partners b. Advertising expenditures c. Salaries paid to non-partner employees d. Depreciation on Equipment used in the business QUESTION 4 Colorado Partnership makes an operating distribution to Conner consisting of $30,000 in cash, land with a fair market value of $50,000 ($55,000 partnership basis), and inventory with a fair market value of $8,000 ($3,000 partnership basis). Immediately prior to the distribution, Conner's outside basis in the partnership was $33,000. What amount of gain, if any, will Conner recognize on the distribution, and what is Conner's resulting basis in the land? a. Recognized Gain $0 Basis in Land $2,000 O b. Recognized Gain c. $3,000 Recognized Gain Basis in Land $5,000 $3,000 Basis in Land $0 d. Recognized Gain $0 Basis in Land $0