Nick has a $125,000 basis in his partnership interest, including $25,000 allocable share of liabilities, immediately before a current distribution. He receives the following assets in the distribution: After the distribution, there are no partnership liabilities allocable to Nick. A. Assuming 5751 does not apply, what is Nick's basis in his partnership interest, the inventory and Parcels \#1 and \#2 immediately after the distribution? B. Describe the consequences to the distributing partnership, if any, on the distribution and other considerations of the partnership and the partners. Nick has a $125,000 basis in his partnership interest, including $25,000 allocable share of liabilities, immediately before a current distribution. He receives the following assets in the distribution: After the distribution, there are no partnership liabilities allocable to Nick. A. Assuming 5751 does not apply, what is Nick's basis in his partnership interest, the inventory and Parcels \#1 and \#2 immediately after the distribution? B. Describe the consequences to the distributing partnership, if any, on the distribution and other considerations of the partnership and the partners