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QUESTION 15 For tax purposes, cash distributions by a partnership to its partners are treated: As income to the partner a. Income, but only to
QUESTION 15 For tax purposes, cash distributions by a partnership to its partners are treated: As income to the partner a. Income, but only to the extent of a partner's current year pro rata share of partnership income Ob. First as a reduction to the partner's basis and any excess as income C. Income to the extent of any asset appreciation since the formation of the partnership O d. None of the above. e
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