Which of the following lists of distributed assets shows the proper order in which these assets should
Question:
Which of the following lists of distributed assets shows the proper order in which these assets should be accounted for in a partnership distribution having a total inside basis exceeding the outside basis of the distributee partner?
a. Cash, unrealized depreciation recapture income, unimproved land
b. Improved land, cash, inventory
c. Cash, inventory, marketable securities
d. Unrealized depreciation recapture income, cash, unimproved land
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Related Book For 
South Western Federal Taxation 2017 Comprehensive
ISBN: 9781305874169
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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