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True or False: Jimmy has an outside basis of $250,000. Jimmy receives a non-liquidating cash distribution of $25,000.Jimmy's basis is reduced to $200,000 and he

True or False: Jimmy has an outside basis of $250,000. Jimmy receives a non-liquidating cash distribution of $25,000.Jimmy's basis is reduced to $200,000 and he does notrecognize any gain on the distribution.

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