Property, plant, and equipment are categorized as ________

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Indicate whether the statement is true or false

The RST Partnership makes a proportionate distribution of its assets to Ryan, in complete liquidation of his partnership interest. The distribution consists of $40,000 in cash and capital assets with a basis to the partnership of $30,000 and a fair market value of $48,000 . None of the payment is for partnership goodwill. At the time of the distribution, Ryan's partnership basis is $45,000 and

the partnership has no liabilities and no "hot assets.". If the partnership makes an optional basis adjustment election on a timely filed return, the partnership recognizes: a. Capital gain of $25,000 and increases the basis of its remaining assets by $12,500. b. Capital loss of $5,000 and decreases the basis of its remaining assets by $5,000. c. No gain or loss and increases the basis of its remaining assets by $25,000. d. No gain or loss and decreases the basis of its remaining assets by $58,000. e. None of the above.