c. Neil has a partnership basis of $100,000. He receives $40,000 of cash, inventory with a basis to the partnership of $30,000, and a capital asset with a partnership basis of $20,000. The inventory...

c.Neil has a partnership basis of $100,000. He receives $40,000 of cash, inventory with a basis to the partnership of $30,000, and a capital asset with a partnership basis of $20,000. The inventory and capital asset have fair market values of $20,000 and $30,000, respectively.

He will recognize no gain or loss  of $fill in the blank 5f4d5d0af074052_2. The capital asset is allocated a basis of $fill in the blank 5f4d5d0af074052_3 and the inventory will have a basis of $fill in the blank 5f4d5d0af074052_4.

d.Oscar has a partnership basis of $40,000. He receives a distribution of $10,000 of cash and an account receivable with a basis of $0 to the partnership (value is $15,000).

He will recognize a   of $fill in the blank 7faaeffda02801c_2.