What is katies basis in the distributed inventory, Accounting Basics

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What is katies basis in the distributed inventory

Problem

Kate recieved $42,000 Cash and inventory with a basis and fair market value of $18,000 in Complete Liquidation of her Partnership Interest. her nasis in her Partnership Interest was $76,000 prior to the distribution. What is katie's basis in the distributed Inventory?

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Accounting Basics: What is katies basis in the distributed inventory

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Accounting Basics: What is katies basis in the distributed inventory

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