Partner Z of the XYZ partnership receives a liquidating distribution of the following: Basis FMV Cash $40,000 $40,000 Inventory $30,000 $45,000 Unrealized receiv. $50,000 $45,000 1. Zs basis in her partnership interest was $95,000. What is her gain or loss and the bases of the assets distributed to her? 2. Assume Zs basis in her partnership interest was $130,000. What is her gain or loss and the bases of the assets distributed to her?Answer 1. There is no gain or loss. The deficit between inside an outside basis is $25,000($120,000-$95,000) . The base of assets distributed to her as follows: Beginning basis Cash $40,000 Inventory ($30,000- $20,000($30,000/($30,000+$45,000)) $22,000 Unrealized receivables ($50,000-$5,000- $20,000($45,000/($30,000+$45,000)) $33,000 How did you come up with the $20,000 in the calc?