Kathy is a 25 percent partner in the KDP Partnership and receives $121,000 cash in complete liquidation of her partnership interest. Kathy's outside basis immediately before the distribution is $159,000 KDP currently has a 5754 election in effect and has no hot assets or liabilities Which of the following statements is true? Kathy is a 25 percent partner in the KDP Partnership and receives $121,000 cash in complete liquidation of her partnership interest. Kathy's outside basis immediately before the distribution is $159,000 KDP currently has a 5754 election in effect and has no hot assets or liabilities Which of the following statements is true