1. Partner has a $40,000 outside basis in her partnership interest. In a pro-rata operating distribution to the partners, the Partner receives two assets. Asset #1 has a value of $10,000 and a basis for the partnership of $40,000. Asset #2 has a value of $10,000 and a basis for the partnership of $20,000. What basis will the partner take in each property under Internal Revenue Code Section 7320) if: 
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3. (a) Asset #1 is an inventory item and Asset #2 is a capital asset? 
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5. (b) Asset #2 is an inventory item and Asset #1 is a capital asset? 
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7. (c) Both properties are inventory items? 
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9. (d) Both properties are capital assets? 
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11. (e) Suppose Asset #1 has a value of $60,000 and a basis of $40,000 to the partnership and Asset #2 has a value of $50,000 and a basis of $20,000. 
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13. What basis will Partner take in each property under Internal Revenue Code Section 7320) if she receives both properties in a pro-rata operating distribution and both properties are inventory items?