Question
Roberto has a basis of $6,825 in a partnership at the beginning of the year. He receives $8,100 in cash distributions, his distributive share of
Roberto has a basis of $6,825 in a partnership at the beginning of the year. He receives $8,100 in cash distributions, his distributive share of income is $4,050, and he receives a land distribution with a basis of $6,825 (FMV $13,650).
Required: Is Roberto required to recognize any gain? If so, how much is the gain?
What is Robertos basis in the land?
What is Robertos ending basis in his partnership interest?
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Audit Of Assumptions For The 2009 Pre Budget Report Report By The Comptroller And Auditor General, Session 2009-2010 Hc 83
Authors: National Audit Office
1st Edition
0102963371, 978-0102963373
