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 $28,000 cash. What
Bob is a 50% partner in ABC Partnership. His outside basis in the partnership is $25,000. Bob received a non-liquidating distribution of $28,000 cash. What is the tax effect (if any) of this distribution, and what is Bobs basis in his partnership after the distribution?
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Excel For Accountants Tips, Tricks & Techniques
Authors: Conrad Carlberg
1st Edition
1932925015, 9781932925012
