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Mailings Review View HUP JULLIT Enable Editing nless you need to edit it's safer to stay in Protected View 5 Points Rick's basis in his
Mailings Review View HUP JULLIT Enable Editing nless you need to edit it's safer to stay in Protected View 5 Points Rick's basis in his partnership interest was $80,000, including his $25,000 share of partnership liabilities. The partnership decides to liquidate, and after repaying all liabilities, distributes all remaining assets proportionately to the partners. Rick receives $15,000 cash and accounts receivable with a $25.000 basis and a $52,000 fair market value to the partnership. What gain or loss does Rick recognize, and what is his basis in the accounts receivable? Explain your
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