Jazzy LLP made a liquidating distribution of $45,000 cash to Carl, a 1/3rd partner. Assume the partnership had inventory with a tax basis of $100,000 and a book value of $280,000. What are the potential tax ramifications of the transaction?

Group of answer choices

a) $0 gain to Carl.

b) $60,000 capital gain to Carl.

c) $60,000 ordinary income to Carl.

d) No change in inventory basis to Jazzy LLP.

e) There are no tax ramifications for this distribution to Carl as a partner.