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Travis and Alix Weber are equal partners in the Tralix Partnership, which does not have a §754 election in place. Alix sells
one-half of her interest (25 percent) to Michael Tomei for $34,000 cash. Just before the sale, Alix's basis in her entire
partnership interest is $79,800, including her $34,000 share of the partnership liabilities. Tralix's assets on the sale date
are as follows:
Cash
Inventory
Land held for investment
Totals
Tax Basis
FMV
$ 43,600
34,000
82,000
$ 43,600
106,000
51,600
$ 159,600
$ 201,200
b. What is Alix's basis in her remaining partnership interest?
Basis