A Partnership has the following balance sheet items:

Partners A and B are limited partners and C and D are general partners. Profits/losses are allocated 10% to both A and B, 20% to C, and 60% to D. Assume inside and outside bases are equal for each partner.

Calculate the following:

• Each Partner's Basis in the Partnership.

Assume the cash (100,000) is distributed to the Partners. Calculate the following:

• Gain/Loss recognized by Partner B
• Gain/Loss recognized by Partner C

Cash Inventory Equipment Accumulated Depreciation Total Assets 100,000 100,000 300,000 (100.000) 400,000 100,000 100,000 650,000 (100,000) 750,000 Recourse Debt Nonrecourse Debt Partner A, Capital Partner B, Capital Partner C, Capital Partner D, Capital Total L & E 200,000 20,000 18,000 18,000 36,000 108,000 400,000 200,000 20,000 53,000 53,000 106,000 318.000 750,000