Carol, Cory, and Cora own 35%, 25%, and 40%, respectively, in the EEE Partnership. Carol sells securities for their 544,000 FMV to the partnership Review the following independent situations (Click the icon to view the independent situations) Requirement What are the tax implications of each independent situation? Begin by determining the tax implications for situations a b, and then c (Use parentheses or a minus sign for a loss Complete all answer boxes. Enter "o for zero amounts) Recognized Partnership's basis Realized gain (loss) Situation gain (loss) in the securities a. b C. Situation d. What are the tax consequences in Part a if the partnership subsequently sells the securities to an unrelated third party for 595,000? For $53,000? For $40,500? Complete the table for case one (selling price of 595,000), then case two (seling price of $58,000) and then case three (seling price of $40 500). (Use parentheses or a minus sign for a loss Complete all answer boxes Enter "ofor zero amounts) Realized Recognized Selling price gain (loss gain (loss) More Info 595,000 $59,000 a. Carol's basis in the securities is $90,000. The three partners are siblings 540 500 b. Carol's basis in the securities is $85,000 Carol is unrelated to the other partners c. Carol's basis in the securities is 535,000 Carol and Cora are sisters. The partnership will hold the securities as an investment d. What are the tax consequences in Part a if the partnership subsequently sells the securities to an unrelated third party for $95 000? For $58,000? For 540 500 Carol, Cory, and Cora own 35%, 25%, and 40%, respectively, in the EEE Partnership. Carol sells securities for their 544,000 FMV to the partnership Review the following independent situations (Click the icon to view the independent situations) Requirement What are the tax implications of each independent situation? Begin by determining the tax implications for situations a b, and then c (Use parentheses or a minus sign for a loss Complete all answer boxes. Enter "o for zero amounts) Recognized Partnership's basis Realized gain (loss) Situation gain (loss) in the securities a. b C. Situation d. What are the tax consequences in Part a if the partnership subsequently sells the securities to an unrelated third party for 595,000? For $53,000? For $40,500? Complete the table for case one (selling price of 595,000), then case two (seling price of $58,000) and then case three (seling price of $40 500). (Use parentheses or a minus sign for a loss Complete all answer boxes Enter "ofor zero amounts) Realized Recognized Selling price gain (loss gain (loss) More Info 595,000 $59,000 a. Carol's basis in the securities is $90,000. The three partners are siblings 540 500 b. Carol's basis in the securities is $85,000 Carol is unrelated to the other partners c. Carol's basis in the securities is 535,000 Carol and Cora are sisters. The partnership will hold the securities as an investment d. What are the tax consequences in Part a if the partnership subsequently sells the securities to an unrelated third party for $95 000? For $58,000? For 540 500