Toni's Basis in Her Partnership Interest Was $60,000,including Her $50,000

Multiple Choice

Toni's basis in her partnership interest was $60,000,including her $50,000 share of partnership liabilities.The partnership decides to liquidate,and after repaying all liabilities,distributes all remaining assets proportionately to the partners.Toni receives $20,000 cash and accounts receivable with a $12,000 basis and a $14,000 fair market value to the partnership.What gain or loss does Toni recognize,and what is her basis in the accounts receivable?

A) $0 gain; $12,000 basis.
B) $0 gain; $14,000 basis.
C) $10,000 gain; $0 basis.
D) $10,000 loss; $0 basis.
E) $10,000 gain; $12,000 basis.