Why is the partner's basis in distributed property limited to his/her basis in the partnership interest prior

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Why is the partner's basis in distributed property limited to his/her basis in the partnership interest prior to the distribution?

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CCH Federal Taxation Basic Principles 2020

ISBN: 9780808051787

2020 Edition

Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

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Question Posted: Feb 18, 2024 05:42 AM

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Why is the partner's basis in distributed property limited to his/her basis in the partnership interest prior

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Explanation of Partners Basis in Distributed Property When a partnership distributes property to one ...View the full answer

CCH Federal Taxation Basic Principles 2020

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