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The ABCD Partnership owns the following assets on December 30 of the current year: Requirement What are the tax consequences of the distribution to the

image text in transcribed The ABCD Partnership owns the following assets on December 30 of the current year: Requirement What are the tax consequences of the distribution to the partnership, Alana, and the other partners? Determine the amount and character of the gain or loss on the partnership's Sec. 751 deemed sale. (Do not round interim percentage or pi minus sign or parentheses.) Assets lar. Enter a loss with a

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