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Kim has a basis in her partnership interest of $12,800 when she receives a distribution from the partnership of $6,400 cash and equipment with a

Kim has a basis in her partnership interest of $12,800 when she receives a distribution from the partnership of $6,400 cash and equipment with a basis of $8,600 ($12,900 FMV).

Required:

How much gain or loss must Kim recognize on the distribution?
What is Kims ending partnership basis?
What is Kims basis in the equipment?

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