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WHICH OF THE FOLLOWING STATEMENTS IS TRUE REGARDING PARTNERSHIP OPERATING DISTRIBUTIONS? Multiple Choice 1. Partners will never recognize a gain on an operating distribution. 2.

WHICH OF THE FOLLOWING STATEMENTS IS TRUE REGARDING PARTNERSHIP OPERATING DISTRIBUTIONS?

Multiple Choice

1. Partners will never recognize a gain on an operating distribution.

2. Partners receiving a distribution of property other than money will take a basis int the property equal to its fair

3. Partners will never recgniize a loss on an operating distrubution.

4. None of the statements are true.

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