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Belinda receives an operating distribution from the GoGo Partnership. Her basis just prior to the distribution is $100,000. Which of the following distributions is likely
Belinda receives an operating distribution from the GoGo Partnership. Her basis just prior to the distribution is $100,000. Which of the following distributions is likely to result in a gain to Belinda? Multiple choice question. Distribution of $70,000 cash Distribution of $150,000 cash Distribution of $40,000 cash and partnership property with a FMV of $100,000 and basis of $10,000 Distribution of property with a FMV of $70,000 and a basis of $40,000
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