Logan's basis in his partnership interest is $20,000 when he receives a pro rata non liquidating distribution
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Logan's basis in his partnership interest is $20,000 when he receives a pro rata non liquidating distribution from the partnership of $22,000 cash and inventory with a basis of $2,000 and fair market value of $3,000). What is Logan's basis for the inventory he received?
Related Book For
South Western Federal Taxation 2016 Corporations Partnerships Estates and Trusts
ISBN: 9781305399884
39th edition
Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young
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