Question: How does a partner s basis in their partnership interest affect the tax consequences of a partnership distribution? Group of answer choices The basis determines

How does a partners basis in their partnership interest affect the tax consequences of a partnership distribution?
Group of answer choices
The basis determines the taxable amount if the distribution exceeds the partner's interest.
A partners basis in the partnership interest is irrelevant for tax purposes.
A partners basis is increased by the amount of the distribution.
A partners basis determines if any gain must be recognized from the distribution.

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