Partner has a $40,000 outside basis in her partnership interest. In a pro rata operating distribution to the partners, Partner receives two assets. Asset #1 has a value of $10,000 and a basis to the partnership of $40,000. Asset #2 has a value of $10,000 and a basis to the partnership of $20,000. What basis will partner take in each property under Internal Revenue Code Section 732(c) if:

(a) Asset #1 is an inventory item and Asset #2 is a capital asset?

(b) Asset #2 is an inventory item and Asset #1 is a capital asset?

(c) Both properties are inventory items?

(d) Both properties are capital assets?

(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. What basis will Partner take in each property under Internal Revenue Code Section 732(c) if she receives both properties in a pro rata operating distribution and both properties are inventory items?