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Partner Z of the XYZ partnership receives a liquidating distribution of the following: Basis FMV Cash $40,000 $40,000 Inventory $37,000 $45,000 Unrealized Receiv. $75,000 $45,000

Partner Z of the XYZ partnership receives a liquidating distribution of the following:

Basis FMV

Cash $40,000 $40,000

Inventory $37,000 $45,000

Unrealized Receiv. $75,000 $45,000

Zs basis in her partnership interest was $175,000. What is her gain or loss and the bases of the assets distributed to her?

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