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The Taurin Partnership (a calendar-year-end entity) has the following assets as of December 31 of...

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Accounting

The Taurin Partnership (a calendar-year-end entity) has the following assets as of December 31 of the current year:

Tax Basis FMV
Cash $ 49,800 $ 49,800
Accounts receivable 16,600 33,200
Inventory 87,000 128,400
Totals $ 153,400 $ 211,400

On December 31, Taurin distributes $16,600 of cash, $11,067 (FMV) of accounts receivable, and $42,800 (FMV) of inventory to Emma (a one-third partner) in termination of her partnership interest. Emma's basis in her partnership interest immediately prior to the distribution is $43,533.

Problem 21-46 Part b (Algo)

b. What is Emma's basis in the distributed assets?

Note: Round your intermediate and final answers to the nearest whole dollar amount.

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