Clear Formatting Using the number on the table below determine the tax treatment to the partner who recelves the distribution Indicated, and then assurming the partnershlp has made a Sectlon 754 election, determine the Section 734 adjustment, If any. If there is none write "None" or "N/A" If there is an adjustment and ts t positive then write the amount of the adjustment without brackets. If the adjustment is negative write the amount In brackets EXAMPLE-Posltive 8,000 adjustment8,000 EXAMPLE-Negative 8,000 adjustment...-.. In EACH case the basls of the partner's Interest Is 585,000 before the distrlbution. The distribution consists of cash, a capital asset, and inventory as shown. If a column is blank then that type of asset was not distributed. The column for quidatingindicates whether the distribution lquidated the partner's interest or not. Situation Cash Receved Basis of Capltal AssetBasis ofInventory Liquidating? 45,000 45,000 55,000 55,000 12,000 13,000 13,000 None Distributed None D stributed None Distributed No None Distributed Yes 70.000 70,000 50,000 NO Yes No COMPLETE THIS TABLE I 20 PONTS-1 POINT EACH ituation Partner Ga nkos Bais to Cash Basis to Property Section 734 Acjustment, Ifany Clear Formatting Using the number on the table below determine the tax treatment to the partner who recelves the distribution Indicated, and then assurming the partnershlp has made a Sectlon 754 election, determine the Section 734 adjustment, If any. If there is none write "None" or "N/A" If there is an adjustment and ts t positive then write the amount of the adjustment without brackets. If the adjustment is negative write the amount In brackets EXAMPLE-Posltive 8,000 adjustment8,000 EXAMPLE-Negative 8,000 adjustment...-.. In EACH case the basls of the partner's Interest Is 585,000 before the distrlbution. The distribution consists of cash, a capital asset, and inventory as shown. If a column is blank then that type of asset was not distributed. The column for quidatingindicates whether the distribution lquidated the partner's interest or not. Situation Cash Receved Basis of Capltal AssetBasis ofInventory Liquidating? 45,000 45,000 55,000 55,000 12,000 13,000 13,000 None Distributed None D stributed None Distributed No None Distributed Yes 70.000 70,000 50,000 NO Yes No COMPLETE THIS TABLE I 20 PONTS-1 POINT EACH ituation Partner Ga nkos Bais to Cash Basis to Property Section 734 Acjustment, Ifany