Question Mode

Multiple Choice Question

When a partner receives property other than money and hot assets in a liquidating distribution and the partner's outside basis is greater than the inside bases of the distributed assets, the basis of the other property will be

Multiple choice question.

each property's inside basis as a carryover basis.

based on the pro$-$rata share of the FMV of the other property to the total property distributed multiplied by the outside basis in the partnership.

inside basis $+$ excess outside basis $($extent of appreciation $+$ excess basis based on FMV of each item of property to total FMV of other property$)$