ABC is an equal partnership. On January 1 of this year, As outside basis is $170 and thepartnerships balance sheet is as follows (expanded to include fair market values):

	AB/Book	FMV		Liabilities
Cash	120	120		150
Accounts Receivable	0	30
Inventory	30	60
Land #1	180	120
Land #2	90	120
Stock (non-marketable)	90	150
	510	600
			Tax/Book	FMV
		A	120	150
		B	120	150
		C	120	150
			360	450

On this date, A receives the following alternative distributions in complete liquidation of her interest in the partnership. What are the tax consequences to A as a result of each of these distributions?

1. The accounts receivable and Land #1.

2. The accounts receivable and Land #2.

3. One-half the inventory and Land #1.

4. One-third of both the inventory and the accounts receivables and Land #2.

5. The accounts receivable and a one-half interest in both Land #1 and Land #2.

i. What difference would it make if As basis prior to the distribution were $148?

ii. What difference would it make if As basis prior to the distribution were $210?

6. One-third of both the inventory and the accounts receivables and $120 cash.

1. What difference would it make if As outside basis were only $100?

2. What difference would it make if As outside basis were $200?