Kim has a basis in her partnership interest of $14,600 when she receives a distribution from the partnership of $7,300 cash and equipment with a basis of $9,950 ($14,925 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?

Note: Leave no cells blank. Enter "0" wherever required.

	Amount
Gain or loss
Ending Partnership
Basis in Equipment