The DJ Partnership has two? partners,Dawn and Jack.Each? partner's basis in his or her partnership interest is $9,000 before any distribution. The partnership distributes $10,000 cash to Dawn and $8,000 cash to Jack.

Requirements

a.	Assuming a current? distribution, determine for each partner? (1) gain or loss recognized and? (2) basis in the partnership interest after the distribution.
b.	Assuming a liquidating? distribution, determine each? partner's gain or loss recognized.