Ziggy outside basis in ZZZ Partnership is $70,000 right before he received a proportionate nonliquidating distribution consisting of farmland with a basis of $80,000 and a fair market value of $100,000 and inventory with a basis of $60,000 and a fair market value of $70,000. After the distribution what is Ziggy's basis?

Here are the options: Outside basis $0; farmland basis $100,000; inventory basis $70,000.

Outside basis $0; farmland basis $80,000; inventory basis $60,000.

Outside basis $0; farmland basis $60,000; inventory basis $10,000.

Outside basis $0; farmland basis $10,000; inventory basis $60,000.