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May's partnership basis (outside) in XYZ Partnership is $40,000 at the time of a cash distribution to her of $30,000. How much is May's gain
May's partnership basis (outside) in XYZ Partnership is $40,000 at the time of a cash distribution to her of $30,000. How much is May's gain on the distribution? Would your answer be different if her basis in the partnership just prior to the $30,000 distribution of cash was
$25,000
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