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Kristen and Harrison are equal partners in the KH Partnership. The partners formed the partnership 5 years ago by contributing cash. Prior to any distributions

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Kristen and Harrison are equal partners in the KH Partnership. The partners formed the partnership 5 years ago by contributing cash. Prior to any distributions Harrison has a basis in his partnership interest of $42.000. On December 31, KH makes a proportionate operating distribution of $46,000 cash to Harrison. What is the amount and character o basis in KH? f Harrison's recognized gain or loss and what is his remaining Multiple Choice $0 gain, $0 basis $4.000 copital gain, $42.000 basis $4,000 capital loss. $0 basis $4,000 capital gain, $0 basis

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