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Which of the following statements is true regarding partnership operating distributions? a. Partners will never recognize a loss on an operating distribution. b. None of

Which of the following statements is true regarding partnership operating distributions?

a. Partners will never recognize a loss on an operating distribution.
b. None of the statements are true.
c.

Partners will never recognize a gain on an operating distribution.
d. Partners receiving a distribution of property other than money will take a basis in the property equal to its fair market value.

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