Partner A received the following in a nonliquidating distribution: Basis FMV Cash $20,000 $20,000 Inventory Item 1 $15,000 $18,000 Inventory Item 2 $12,000 $4,000 Capital
Partner A received the following in a nonliquidating distribution: Basis FMV Cash $20,000 $20,000 Inventory Item 1 $15,000 $18,000 Inventory Item 2 $12,000 $4,000 Capital Asset 1 $15,000 $8,000 Capital Asset 2 $10,000 $20,000 $72,000 $70,000 Assume As basis in the partnership before the distribution was $35,000. What would the bases of the assets be to A?
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Authors: Harry I. Wolk, James L. Dodd, John J. Rozycki
7th Edition
1412953456, 978-1412953450
