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Business Entity The treatment of distributions in liquidations differs from that in non-liquidating distributions in that the corporation is always allowed to recognize loss on
Business Entity The treatment of distributions in liquidations differs from that in non-liquidating distributions in that the corporation is always allowed to recognize loss on a liquidating distribution. TRUE or FALSE? 41. A partnership that distributes an asset the FMV of which exceeds its inside basis must recognize gain equal to the excess. TRUE or FALSE? 42. A partner never recognizes loss upon the receipt of a current distribution from a partnership. TRUE or FALSE 43
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