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Business, 29.08.2019 02:20 davidoj13

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?

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Brian is a 25% partner in the bc partnership. on january 1, bc distributes $20,000 cash and land wit...
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