subject
Business, 07.11.2019 23:31 elrancho

Sarah is a 50% partner in the sf partnership and has an outside basis of $56,000 at the end of the year prior to any distributions. on december 31, sarah receives a proportionate operating distribution of $20,000 cash. what is the amount and character of sarah's recognized gain or loss and what is her basis in her partnership interest?
a) $0 gain, $36,000 basis.
b) $20,000 ordinary income, $56,000 basis.
c) $0 gain, $56,000 basis.
d) $20,000 ordinary income, $36,000 basis.

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 07:30
Why has the free enterprise system been modified to include some government intervention?
Answers: 1
question
Business, 22.06.2019 11:10
The prebisch–singer hypothesis concludes that: a. technology lowers the cost of manufactured products, so developing countries should see an increase in their terms of trade. b. developing countries experience a long-run decline in their terms of trade, as the demand for primary products in higher-income countries declines relative to their demand for manufactured goods. c. because of unfair trading practices, labor in developing countries is exploited. d. opec has been responsible for a slowdown in the world's standard of living.
Answers: 3
question
Business, 22.06.2019 18:30
Health insurance protects you if you experience any of the following except: a: if you have to be hospitalized b: if you damage someone's property c: if you need to visit a clinic d: if you can't work because of illness
Answers: 2
question
Business, 22.06.2019 20:00
Assume the perpetual inventory method is used. 1) the company purchased $12,500 of merchandise on account under terms 2/10, n/30. 2) the company returned $1,200 of merchandise to the supplier before payment was made. 3) the liability was paid within the discount period. 4) all of the merchandise purchased was sold for $18,800 cash. what effect will the return of merchandise to the supplier have on the accounting equation?
Answers: 2
You know the right answer?
Sarah is a 50% partner in the sf partnership and has an outside basis of $56,000 at the end of the y...
Questions
question
History, 19.11.2020 18:20
question
Mathematics, 19.11.2020 18:20
question
Social Studies, 19.11.2020 18:20
question
Mathematics, 19.11.2020 18:20
question
Mathematics, 19.11.2020 18:20
Questions on the website: 13722360