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9 Travis and Alix Weber are equal partners in the Traix Partnership, which does not have a 754 election in place. Alix sells one-half of
9 Travis and Alix Weber are equal partners in the Traix Partnership, which does not have a 754 election in place. Alix sells one-half of her interest (25 percent) to Michael Tomei for $32,000 cash. Just before the sale, Alix's basis in her entire partnership interest is $77,400, including her $32,000 share of the partnership liabilities. Tralix's assets on the sale date are as follows Tax Basis FMV Cash $ 41,888 $. 41,888 32,80 98,00e 5e,880 $154,800 $190,600 Inventory Land held for investment Part 4 of 4 81,0005,9 Totals 1.05 points eBook d. Will the sale have any effect on the partnership's basis in the assets? Print Yes or No Yes No
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