Business, 25.07.2020 03:01 laryans317

Martha is a 40 percent partner in the MMM Partnership, with an outside basis of $50,000. MMM distributes $40,000 cash and accrual-basis accounts receivable with a basis and fair market value of $20,000. Martha does not recognize gain or loss on the distribution and takes a basis in the cash of $40,000 and a basis in the receivables of $10,000. a) true
b) false

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Martha is a 40 percent partner in the MMM Partnership, with an outside basis of $50,000. MMM distrib...

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