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Return to question D. ! 13 Required information [The following information applies to the questions displayed below) The Taurin Partnership (a calendar-year-end entity) has the

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Return to question D. ! 13 Required information [The following information applies to the questions displayed below) The Taurin Partnership (a calendar-year-end entity) has the following assets as of December 31 of the current year. Cash Accounts receivable Inventory Totals Tax Basis $ 46,680 15,560 83,100 $ 145, 340 FMV $ 46,680 31,120 122,940 $ 200, 740 On December 31, Taurin distributes $15,560 of cash $10,373 (FMV) of accounts receivable, and $40,980 (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 $41,237 b. What is Emma's basis in the distributed assets? (Round your intermediate and final answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. Basis Cash S 15,560 Accounts s receivable 1,113 Inventory S 21,703 Return to question 31 ! Part 3 of 3 Required information [The following information applies to the questions displayed below) The Taurin Partnership (a calendar year end entity) has the following assets as of December 31 of the current year 0.3 points Cash Accounts receivable Inventory Totals Tax Basis $ 46,680 15,560 83,100 $ 145, 340 EMV 46,680 31,120 122,940 $ 200, 740 On December 31, Taurin distributes $15,560 of cash, $10,373 (FMV) of accounts receivable, and $40,980 (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 $41,237 c1. If Emma's basis before the distribution was $56,762 rather than $41,237, what is Emma's recognized gain or loss? c2. What is her basis in the distributed assets? Answer is complete but not entirely correct. 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 answer whole dollar amount.) Is Cash Accounts receivable Inventory Basis 15 560 3,216 83,100 IS IS

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