Why cant a partner defer recognition of gain when (s)he receives a distribution of cash in excess
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Why can’t a partner defer recognition of gain when (s)he receives a distribution of cash in excess of his/her basis in the partnership interest?
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When a partner receives a distribution of cash from a partnership the general rule is that the partner does not recognize gain on the distribution as ...View the full answer
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Related Book For 
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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