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Title: Oliver receives a nonliquidating distribution of land having a $25,000 adjusted basis and a $32,000 ... Post by: Augustus1 on Jan 11, 2017 Oliver receives a nonliquidating distribution of land having a $25,000 adjusted basis and a $32,000 FMV from the OK Partnership. At the time of the distribution, Oliver's basis in his partnership interest is $30,000.
a. What is the amount of recognized gain or loss on the distribution? b. What is Oliver's basis in his partnership interest following the distribution? c. What is Oliver's basis in the land? Title: Re: Oliver receives a nonliquidating distribution of land having a $25,000 adjusted basis and a ... Post by: Yoko900 on Jan 11, 2017 Content hidden
Title: Re: Oliver receives a nonliquidating distribution of land having a $25,000 adjusted basis and a $32,000 ... Post by: Augustus1 on Mar 19, 2017 Your explanation helped, amazing amazing!
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