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Required information [ The following information applies to the questions displayed below. k AJ is a 3 0 percent partner in the Trane Partnership, a

Required information
[The following information applies to the questions displayed below. k
AJ is a 30 percent partner in the Trane Partnership, a calendar-year-end entity. On January 1, AJ has an outside basis in his
interest in Trane of $76,500, which includes his share of the $52,800 of partnership liabilities. Trane generates $43,400 of
income during the year and does not make any changes to its liabilities. On December 31, Trane makes a proportionate
distribution of the following assets to AJ to terminate his partnership interest:
Note: Leave no answer blank. Enter zero if applicable.
c. What is AJ's basis in the distributed assets?
Answer is not complete.
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