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Esme has a basis in her partnership interest of $12,000 when she receives a distribution from the partnership of $6,000 cash, and equipment with a

Esme has a basis in her partnership interest of $12,000 when she receives a distribution from the partnership of $6,000 cash, and equipment with a basis of $8,000 ($12,000 FMV). Gain to be recognized by Esme Esme's ending partnership basis

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