Required information [The following information applies to the questions displayed below.] The Taurin Partnership (calendar-year-end) has the following assets as of December 31 of the current year: Cash Accounts receivable Inventory Totals Tax Basis FMV $ 50,040 $ 50,040 16,680 33,360 87,300 128,820 $154,020 $212, 220 On December 31, Taurin distributes $16,680 of cash, $11,120 (FMV) of accounts receivable, and $42,940 (FMV) of inventory to Emma (a one-third partner) in termination of her partnership interest. Emma's basis in her partnership interest immediately prior to the distribution is $43,710. c1. If Emma's basis before the distribution was $60,285 rather than $43,710, what is Emma's recognized gain or loss? c2. What is her basis in the distributed assets? Complete this question by entering your answers in the tabs below. Reg C1 Reg C2 What is her basis in the distributed assets? (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Basis Cash Accounts receivable Inventory Required information (The following information applies to the questions displayed below.) The Taurin Partnership (calendar-year-end) has the following assets as of December 31 of the current year: Cash Accounts receivable Inventory Totals Tax Basis FMV $ 50,040 $ 50,040 16,680 33,360 87,300 128,820 $154,020 $212,220 On December 31, Taurin distributes $16,680 of cash, $11,120 (FMV) of accounts receivable, and $42,940 (FMV) of inventory to Emma (a one-third partner) in termination of her partnership interest. Emma's basis in her partnership interest immediately prior to the distribution is $43,710. b. What is Emma's basis in the distributed assets? (Round your intermediate and final answers to the nearest whole dollar amount.) Answer is not complete. Basis 16,680 $ Cash Accounts receivable Inventory