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NEED HELP ASAP!!! NOT SURE WHAT TO DO! Required information (The following information applies to the questions displayed below.) AJ is a 30 percent partner

image text in transcribedNEED HELP ASAP!!! NOT SURE WHAT TO DO!

Required information (The following information applies to the questions displayed below.) AJ is a 30 percent partner in the Trane Partnership, a calendar-year-end entity. On January 1, AJ has an outside basis in his interest in Trane of $76,500, which includes his share of the $52,800 of partnership liabilities. Trane generates $43,400 of income during the year and does not make any changes to its liabilities. On December 31, Trane makes a proportionate distribution of the following assets to AJ to terminate his partnership interest: (Leave no answer blank. Enter zero if applicable.) Tax Basis FMV Inventory $58,500 $69,200 Land 31,400 25,700 Totals $89,900 $94,900 c. What is AJ's basis in the distributed assets? Basis Inventory Land

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