On 1/1 of the current year, B??s basis in his partnershipinterest = $64,000. He ??materially participates? in the business ofthe partnership. On 12/1, B receives

On 1/1 of the current year, Bâ??s basis in his partnershipinterest = $64,000. He â??materially participatesâ? in the business ofthe partnership. On 12/1, B receives $2,000 cash distribution. Hisdi 2 answers