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Kathy is a 25 percent partner in the KDP Partnership and receives $124.000 cash in complete liquidation of her partnership interest. Kathy's outside basis immediately
Kathy is a 25 percent partner in the KDP Partnership and receives $124.000 cash in complete liquidation of her partnership interest. Kathy's outside basis immediately before the distribution is $156,000. KDP currently has a 3754 election in effect and has no hot assets or abilities. Which of the following statements is Multiple Choice O KDP will decrease the base of its sets by 532.000 and $22.000 on the non KDP will decrease the basis of its by 32.000 and Kathy will S0000 the buon Oo oo KDP will increase the besis of its sets try $32,000 and Kathy will conte a $32.000 gain on the distribution Pwice the basofists by 2000 and Kathywogo $32000 otherbo
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