Question
Bob is a 50% partner in ABC Partnership. His outside basis in the partnership is $25,000. Bob received a non-liquidating distribution of $10,000 cash and
Bob is a 50% partner in ABC Partnership. His outside basis in the partnership is $25,000. Bob received a non-liquidating distribution of $10,000 cash and inventory with a basis of $14,000 and a FMV of $16,000. What is Bobs basis in the inventory, and what is his basis in the partnership after the distribution?
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Excel For Accountants Tips, Tricks & Techniques
Authors: Conrad Carlberg
1st Edition
1932925015, 9781932925012
