Question: ACCT 540 Using the number on the table below determine the tax treatment to the partner who receives the distribution indicated, and then assuming the

ACCT 540

Using the number on the table below determine the tax treatment to the partner who receives the distribution indicated, and then assuming the partnership has made a Section 754 election, determine the Section 734 adjustment, if any. If there is none write None or N/A

In EACH case the basis of the partners interest is $80,000 before the distribution.

The distribution consists of cash, a capital asset, and inventory as shown. If a column is blank then that type of asset was not distributed. The column for Liquidating indicates whether the distribution liquidated the partners interest or not.

*Please specify the amounts instead of yes or no. Thank you!

ACCT 540 Using the number on the table below determine the tax

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