Katrina is a one-third partner in the KYR Partnership (calendar year-end). Katrina decides she wants to exit the partnership and receives a proportionate distribution to liquidate her partnership interest on January 1. The partnership has no liabilities and holds the following assets as of January 1:

Basis FMV

Cash $ 180,000 $ 180,000

Accounts receivable 0 240,000

Stock investment 75,000 120,000

Land 300,000 360,000

Totals $ 555,000 $ 900,000

Katrina receives one-third of each of the partnership assets. She has a basis in her partnership interest of $250,000. What is the amount and character of any recognized gain or loss to Katrina? What is Katrina's basis in the distributed assets?

108) Katrina is a one-third partner in the KYR Partnership (calendar year-end). Katrina decides she wants to exit the partnership and receives a proportionate distribution to liquidate her partnership interest on January 1. The partnership has no liabilities and holds the following assets as of January 1:

Basis FMV

Cash $ 180,000 $ 180,000

Accounts receivable 0 240,000

Stock investment 75,000 120,000

Land 300,000 360,000

Totals $ 555,000 $ 900,000

Katrina receives one-third of each of the partnership assets. She has a basis in her partnership interest of $110,000. What is the amount and character of any recognized gain or loss to Katrina? What is Katrina's basis in the distributed assets?

please show me the whole calculation. I need to see how the number allocated to each hot asset