If Joe owns 25% and Susan owns 60% of the partnership at the time of thedistribution, how much gain will Joe have to recognize, what will its character be, whatwill be Joes basis in his partnership interest, and what is Susans basis in the property(assume Susans basis in the partnership interest before the distribution is $100,000)?b.Would your answer be any different if Susan only owned 40%?

Would your answer be any different if Susan only owned 40%?

What would your answer be if Susan owned 40% and the FMV at the time of the distribution was only $45,000?

What would your answer be if the propertys FMV at the time of the contribution was only $35,000, Susan owned 40% of the partnership, and the FMV at the time of the distribution was only $30,000? What would your answer be if Susan owned 60% of the partnership?