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Josh owns a 2 5 % interest in PCS LP ( a US partnership ) . At the end of 2 0 2 3 ,
Josh owns a interest in PCS LP a US partnership At the end of PCS liquidated and distributes to Josh $ cash, accounts receivables with a basis and FMV of $ and a building with a tax basis of $ and a FMV of $ Prior to the liquidation, Josh had a tax basis of $ in the partnership. As a result, Josh will have:$ gain or loss, $ basis in the receivables, $ basis in the building$ loss, $ basis in the receivables, $ basis in building$ gain or loss, $ basis in the receivables, $ basis in the building$ gain, $ basis in the receivables, $ basis in the building
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