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Identify which of the following statements is true.

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Identify which of the following statements is true.

Identify which of the following statements is true.
A) Distribution of partnership income in the form of cash to partners is generally tax-free to the partners and the partnership.
B) When partners receive cash distributions from the partnership, they pay taxes on those distributions.
C) If money distributions exceed the partner's basis in the partnership interest, the partner would have to recognize gain on the distribution from the partnership. Such gain is usually an ordinary gain.
D) All of the above are true.

Textbook

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Edition: 27^th

Authors: Anderson, Pope, Rupert

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That's not philosophy, it's geometry

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safezone Author

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7 years ago

Thanks

apelton

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Yesterday

Thank you, thank you, thank you!

gage

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2 hours ago

Correct

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