What basis does marilyn take in the inventory


Marilyn is a partner in a continuing partnership. At the end of the current year, the partnership distributed to Marilyn in a proportionate, nonliquidating distribution cash of $40,000, inventory with a basis to the partnership of $12,000 and a fair market value of $10,000, and a parcel of land with a basis to the partnership of $30,000 and a fair market value of $40,000. Marilyn's basis in the partnership interest was $80,000 before the distribution. What basis does Marilyn take in the inventory and land, and what is her basis in the partnership interest following the distribution?

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Accounting Basics: What basis does marilyn take in the inventory
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