In a proportionate liquidating distribution Alexandria receives a distribution

In a proportionate liquidating distribution

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62. In a proportionate liquidating distribution, Alexandria receives a distribution of $70,000 cash, accountsreceivable (basis of $0, fair market value of $20,000), and land (basis of $30,000, fair market value of $60,000).In addition, the partnership repays all liabilities, of which Alexandrias share was $40,000. Alexandriasbasis in the entity immediately before the distribution was $90,000. As a result of the distribution, what isAlexandrias basis in the accounts receivable and land, and how much gain or loss does she recognize? 63. In a proportionate liquidating distribution, Sara receives a distribution of $40,000 cash, accounts receivable(basis of $0, fair market value of $30,000), and inventory (basis of $50,000, fair market value of $60,000).Saras basis in the entity immediately before the distribution was $120,000. As a result of the distribution,what is Saras basis in the accounts receivable and inventory, and how much gain or loss does she recognize?
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64. Which of the following statements correctly reflects the rules regarding proportionate liquidatingdistributions?
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