Brian is a 25% partner in the bc partnership. on january 1, bc distributes $20,000 cash and land with a $16,000 fair value (inside basis $8,000) to brian. bc has no liabilities at the date of the distribution. brian's basis in his bc partnership interest is $16,000. what is the amount and character of brian's gain or loss on the distribution?
The amount is $4,000 and Brain character reflects the capital gain.
Partnership: In partnership, there are two or more partners who are ready to share the profit or losses in their profit-loss sharing ratio.
The computation is shown below:
= Brain's basis - the inside basis
= $16,000 - ($20,000 - $8,000)
Since the brain basis show excess amount than inside basis which reflects the capital gain .
The inside basis is not relevant in the computation part. Hence, it is ignored.
metallurgy is your answer
the "study of metals and the process of refining ("
note that it says metal. metallurgy has the word "metal" in it, and so is most likely your answer (and is your answer).
the answer is either "loser" or "dumb*ss"
gods, i'm only joking, don't ban me.*