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Rebecca has a $64,000 basis In her partnership Interest when she recelves liquidating distributions from the partnership. She receives cash of $36,000 and equipment with
Rebecca has a $64,000 basis In her partnership Interest when she recelves liquidating distributions from the partnership. She receives cash of $36,000 and equipment with a $24,000 basis to the partnership. What are the tax consequences of the liquidating distributions to Rebecca? 15:07 Gain (loss) on liquidation Basis of equipment NE
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