randolph is a 30 percent partner in the rd partnership. on january 1, rd distributes $21,000 cash and inventory with a fair value of $49,400 (inside basis of $24,700) to randolph in complete liquidation of his interest. rd has no liabilities at the date of the distribution. randolph's basis in his rd partnership interest is $48,600. what is the amount and character of randolph's gain or loss on the distribution?
