In a proportionate liquidating distribution in which the partnership also liquidates, ABC LLP distributes cash, inventory, and

Question:

In a proportionate liquidating in which the also liquidates, ABC LLP distributes cash, inventory, and unrealized receivables. How does partner Angie determine her basis in the property she received? Might she recognize a gain or loss? Explain.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...