ABCO partnership makes a current $($nonliquidiating$)$ distribution the following property to its $50\%$

partner Vincent: $$10,000$ cash; inventory $($basis of $$7,000,$ fair market value of $$12,000)$; and a

building $($basis of $$6,500,$ fair market value of $$4,200).$ Vincent's sahre of partnership liabilities also

decreases in the amount of $$27,000.$ Assuming Vincent's outside basis in the partnerhsip

immediately before the distribution as set forth below, what is Vincent's basis in the inventory,

building, vehicle, equipment and ending basis in the partnership?

Part A: Assume Vincent has a $$32,000$ basis in ABCO partnerhship immediately before the

distribution:

Recognized Gain

inventory basis

building basis

Recognized Loss

ABCO partnerhsip basis

Part B: Assume Vincent has a $$120,000$ basis in ABCO partnerhship immediately before the

distribution:

Recognized Gain

inventory basis

building basis

Recognized Loss

ABCO partnerhsip basis