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a.)

Daniela is a 25% partner in the JRD Partnership. On January 1, JRD makes a

proportionate distribution of $16,000 cash, inventory with a $16,000 fair value (inside

basis $8,000), and accounts receivable with a fair value of $8,000 (inside basis of

$12,000) to Daniela. JRD has no liabilities at the date of the distribution. Daniela's basis

in her JRD partnership interest is $20,000. What is Daniela's basis in the distributed

inventory and accounts receivable?

b.) 

Daniela is a 25 percent partner in the JRD Partnership. On January 1, JRD makes a proportionate, liquidating distribution of $16,000 cash, inventory with a $16,000 fair value (inside basis $8,000), and accounts receivable with a fair value of $8,000 (inside basis of $12,000) to Daniela. JRD has no liabilities at the date of the distribution. Daniela's basis in her JRD Partnership interest is $20,000. What is the amount and character of Daniela's gain or loss from the distribution?