Bob received a liquidating distribution consisting of property with an FMV of $60,000 and cash of $43,000.

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Bob received a liquidating distribution consisting of property with an FMV of $60,000 and cash of $43,000. The property had an adjusted basis to the partnership of $42,000. Bob's adjusted basis in the partnership interest immediately before the distribution was $40,000

Posted Date: May 18, 2024 08:08 PM

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Bob received a liquidating distribution consisting of property with an FMV of $60,000 and cash of $43,000.

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