EXHIBITS

Nonliquidating$\_\_$p$.$ Dist. to Partners

JKL Partnership

Year $10$ Nonliquidating Operating Distributions to Partners

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Janet, Karen, and Lisa are equal general partners in JKL Partnership. In Year $10$ the partnership made nonliquidating operating

distributions to each of the partners. Information about the assets distributed and each partner's adjusted basis in her partnership

interest before the distribution are provided in the exhibit.

Using the information provided, calculate the amount of gain or loss recognized by the partnership and each of the partners. For

each partner, also calculate the partner's basis in the assets distributed to that partner and the partner's post$-$distribution basis in

her partnership interest.

Enter the amounts in the table below. Enter gains as positive values and losses as negative values. If the amount is zero, enter a

zero $(0).$