Travis and Alix Weber are equal partners in the Tralix Partnership, which does not have a 754 election in place. Alix sells one-half of her interest (25 percent) to Michael Tomei for $36,500 cash. Just before the sale, Alixs basis in her entire partnership interest is $82,800, including her $36,500 share of the partnership liabilities. Tralixs assets on the sale date are as follows:

		Tax Basis		FMV
Cash	$	45,850		$	45,850
Inventory		36,500			116,000
Land held for investment		83,250			52,600
Totals	$	165,600		$	214,450

a. What is Alixs basis in her remaining partnership interest?

b. What is Michaels basis in his partnership interest?

c. Does the sale on partnership's basis have any effect in the assets?