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In a Proportionate Liquidating Distribution in Which the Partnership Is

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In a proportionate liquidating distribution in which the partnership is liquidated,Greg received cash of $20,000,inventory (basis of $2,000,fair market value of $3,000),and a capital asset (basis and fair market value of $4,000).Immediately before the distribution,Greg's basis in the partnership interest was $30,000.
In a proportionate liquidating distribution in which the partnership is liquidated,Greg received cash of $20,000,inventory (basis of $2,000,fair market value of $3,000),and a capital asset (basis and fair market value of $4,000).Immediately before the distribution,Greg's basis in the partnership interest was $30,000.

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