Cch incorporated all rights reserved practical guide

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©2015 CCH Incorporated. All Rights Reserved.
Practical Guide to Partnerships and LLCs—Instructor’s Guide Solutions49.Partner A received the following in a nonliquidating distribution:BasisFMVCash$20,000$20,000Inventory Item 1$15,000$18,000Inventory Item 2$10,000$6,000Capital Asset 1$20,000$7,000Capital Asset 2$10,000$20,000$75,000$71,000i.Assume A’s basis in the partnership before the distribution was $40,000.What wouldthe bases of the assets be to A?
ii.Assume A’s basis in the partnership before the distribution was $60,000.What wouldthe bases of the assets be to A?
©2015 CCH Incorporated. All Rights Reserved.
Practical Guide to Partnerships and LLCs—Instructor’s Guide Solutions510. When will a partner recognize a loss on a distribution from a partnership?
11. In a liquidating partnership distribution, the partner only got cash and ordinaryincome property distributed to her, and the total cash and basis of ordinary incomeproperty distributed to her was greater than her basis in her partnership interest.Howwould the outside basis be allocated to the distributed assets?

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Term
Spring
Professor
games
Tags
partner, Partner s basis

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