renats sold her interest in a partnership for $31000 cash when her outside basis was $18000. She was reliefed of her $29000 share of the partnership liabilities. What is Renata's realized value from the sale of her partnership interest?

$31000

$42000

$47000

$60000

According to the question, Renata sold her partnership interest for $31,000 cash and was relieved of her $29,000 share of partnership liabilities. To calculate the realized value of the sale, we need to add the cash proceeds to the relief from liabilities.

The calculation steps are as follows:

1. The amount relieved from liabilities:

Renata's share of partnership liabilities was $29,000, which means she was relieved of this amount.

2. Cash proceeds from sale: Renata sold her partnership interest for $31,000 cash.

3. Total realized value: The realized value from the sale of Renata's partnership interest can be calculated by adding the cash proceeds to the relief from liabilities.

Therefore, the realized value is: $29,000 (relief from liabilities) + $31,000 (cash proceeds) = $60,000

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renats sold her interest in a partnership for $31000 cash when her outside basis was $18000. She was reliefed of her $29000 share of the partnership liabilities. What is Renata's realized value from the sale of her partnership interest?$31000$42000$47000$60000

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renats sold her interest in a partnership for $31000 cash when her outside basis was $18000. She was reliefed of her $29000 share of the partnership liabilities. What is Renata's realized value from the sale of her partnership interest?

$31000

$42000

$47000

$60000