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Zach's partnership interest basis is $100,000. Zach receives a proportionate, liquidating distribution from a liquidating partnership of $50,000 cash and inventory having a basis of
Zach's partnership interest basis is $100,000. Zach receives a
proportionate, liquidating distribution from a liquidating partnership of
$50,000 cash and inventory having a basis of $20,000 to the partnership
and a fair market value of $30,000.
Calculate the partners:
Gain/Loss on the distribution
Basis in the property received from the partnership
Ending basis in the partnership
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