Business, 25.12.2019 04:31 ashiteru123
Randolph is a 30 percent partner in the rd partnership. on january 1, rd distributes $15,000 cash and inventory with a fair value of $20,000 (inside basis of $10,000) to randolph in complete liquidation of his interest. rd has no liabilities at the date of the distribution. randolph's basis in his rd partnership interest is $27,000. what is the amount and character of randolph's gain or loss on the distribution?
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Randolph is a 30 percent partner in the rd partnership. on january 1, rd distributes $15,000 cash an...
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