A partner receives the following in a liquidating distribution: Basis FMV Cash $12,000 $12,000 Accounts receivable (A/R)

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A partner receives the following in a liquidating distribution: Basis FMV Cash $12,000 $12,000 Accounts receivable (A/R) 0 4,000 Land 8,000 3,000 The partner's basis in the partnership immediately prior to the distribution is $25,000. What is the patner's basis in the A/R and the land immeidately after the liquidating distribution

Posted Date: May 18, 2024 03:14 PM

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A partner receives the following in a liquidating distribution: Basis FMV Cash $12,000 $12,000 Accounts receivable (A/R)

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