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Winnie had an adjusted basis of $25,000 in a partnership. In complete liquidation of her interest, she received $10,000 cash and unrealized receivables having
Winnie had an adjusted basis of $25,000 in a partnership. In complete liquidation of her interest, she received $10,000 cash and unrealized receivables having a $0 basis to the partnership. If Sec. 751(b) and Sec. 73(b) do not apply, what is her basis in the receivables and the amount and character of any loss to be recognized on this transaction?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
