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thank you, 2 questions thank you! Mao and Madhav are equal partners in the M&M Partnership (calendar year-end entity). On January 1 of the current

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Mao and Madhav are equal partners in the M&M Partnership (calendar year-end entity). On January 1 of the current year, M&M Partnership is liquidated. At the time of the liquidation, Mao's basis in her partnership interest is $117,000 and Madhav's basis is $41,800. Mao receives the following assets in the liquidation, which is a proportionate liquidation: (Leave no answer blank. Enter zero if applicable.) Tax Cash Inventory Land Basis FMV $34,250 $34,250 7,550 8,720 925 1,510 $42,725 $44, 480 Totals What is Mao's basis in the distributed assets? Basis Cash Inventory Land Football Corp. made an Selection that has been valid since the business' inception (I.e. the corporation never operated as a C corporation), Mahomes has a tax basis of $16.750 in his Football Corp. stock. In 2020, Mahomes was allocated $21,750 of ordinary income from Football Corp. What is the amount and character of gain Mahomes recognizes from end-of-the-year distributions given the below facts, and what is his stock basis following the distribution? (Leave no answer blank. Enter zero if applicable. If the answer is O", select "None".) Football distributes $43.500 to Mahomes. Amount Character Gain Stock basis

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