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Author Question: All of the following statements are true regarding nonliquidating distributions of a partnershipexcept: (Read 18 times)

Bernana

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on: Sep 13, 2020

Question 1

All of the following are separately stated items that pass through from the partnership to the partners except
◦ 1231 gains or losses.
◦ charitable contributions.
◦ capital gains and losses.
◦ 1245 and 1250 recapture.

Question 2

All of the following statements are true regarding nonliquidating distributions of a partnership except:
◦ If money is distributed in excess of the partnership interest, the partner receiving the distribution has capital gain.
◦ In no circumstances will the partner or the partnership recognize gain or loss from a nonliquidating distribution.
◦ In no circumstances may the partner's basis in the partnership interest be reduced below zero as a result of a nonliquidating distribution.
◦ If, after money distributions reduce the partnership basis, the adjusted basis of distributed property does not exceed the partner's basis in the partnership interest, the basis of the distributed property carries over to the partner.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by Bernana on Sep 13, 2020

flexer1n1

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Bernana

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)

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Reply 3 on: Yesterday
Excellent

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