Requirement Complete the chart for each of the following independent distributions. Assume that all distributions are liquidating and pro rata to the partners, that no contributed property was distributed, that all precontribution gain has been recognized before these distributions, and that no Sec. 754 election is in effect. (Complete all answer boxes. Enter a "O" for any zero balances. Do not round any interim calculations, but then round all of your final answers that you enter into the tables below to the nearest whole dollar. Abbreviation used: FMV = fair market value.) a. Basis: Predistribution Postdistribution Gain or loss Get more help - Property's Property's Partner's Basis and Gain/LoSS Property Distributed Basis to Property's Basis to Partnership FMV Partner 35,000 Cash 13,000 $ 13,000 Land 12,000 20,000 Machinery 3,500 1,000 Clear all Check answer