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Sarah is a 50percent partner in the SF Partnership and has a…
Sarah is a 50percent partner in the SF Partnership and has an outside basis of $56,000 at the end of the year prior to any distributions. On December 31, Sarah receives a proportionate operating distribution of $20,000 cash. What is the amount and character of Sarah’s recognized gain or loss and what is her basis in her partnership interest?
Sarah is a 50percent partner in the SF Partnership and has a…
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Sаrаh is а 50percent partner in the SF Partnership and has an оutside basis оf $56,000 at the end оf the year prior to any distributions. On December 31, Sarah receives a proportionate operating distribution of $20,000 cash. What is the amount and character of Sarah's recognized gain or loss and what is her basis in her partnership interest?
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