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Izzy Gonzalez has a $65,000 basis in her 50 percent partnership interest in the El Mundo Partnership (a local periodical) before receiving any distributions. This

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Izzy Gonzalez has a $65,000 basis in her 50 percent partnership interest in the El Mundo Partnership (a local periodical) before receiving any distributions. This year El Mundo makes a proportionate operating distribution to Izzy Gonzalez of $10,000 cash and inventory with an $80,000 fair value and a $40,000 basis to El Mundo. Use the following format for you answers: $1,234 1. What is izzy Gonzalez's basis in the inventory after the distribution? 2. What is her remaining outside basis in El Mundo after the distribution

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