Proportionate liquidating distribution

It includes all assets that are not cash, capital, or § 1231 assets.

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In a occurs when the distribution increases or decreases the distributee partner’s interest in certain ordinary income-producing assets.

What is Jody\u2019s basis in the distributed property? Frazier\u2019s outside\r\nbasis in the partnership was

In a occurs when the distribution increases or decreases the distributee partner’s interest in certain ordinary income-producing assets.

What is Jody\u2019s basis in the distributed property? Frazier\u2019s outside\r\nbasis in the partnership was $1,200. Lisa received cash of $20,000 in liquidation\r\nof her entire interest.

On that date, Woodwest\u2019s\r\nbalance sheet was as follows:\r\n\t Cash \t\t$2,000\r\n\t Land (adjusted basis) 2,000\r\n\t\t Capital\u2014Stone \t\t$3,000\r\n\t\t Capital\u2014Frazier \t\t 1,000\r\n The fair market value of the land was $3,000. In 2012, when Lisa\u2019s entire interest\r\nin the partnership was liquidated, Dee\u2019s assets consisted\r\nof the following: cash, $20,000 and tangible property with a\r\nbasis of $46,000 and a fair market value of $40,000. Lisa\u2019s adjusted basis for her one-third\r\ninterest was $22,000. If this distribution were in complete liquidation of\r\n Reed\u2019s interest in Post, Reed\u2019s recognized gain or loss resulting\r\nfrom the distribution would be\t\r\na.

If the partnership makes an occurs when the partnership business operations continue but the partnership terminates because there has been a sale or exchange of the requisite 50 percent capital and profits interests within 12 months.

If the same interest (less than 50 percent) is sold more than once, only one sale is considered in determining whether more than 50 percent has been sold within 12 months.

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In a occurs when the distribution increases or decreases the distributee partner’s interest in certain ordinary income-producing assets. What is Jody\u2019s basis in the distributed property? Frazier\u2019s outside\r\nbasis in the partnership was $1,200. Lisa received cash of $20,000 in liquidation\r\nof her entire interest. On that date, Woodwest\u2019s\r\nbalance sheet was as follows:\r\n\t Cash \t\t$2,000\r\n\t Land (adjusted basis) 2,000\r\n\t\t Capital\u2014Stone \t\t$3,000\r\n\t\t Capital\u2014Frazier \t\t 1,000\r\n The fair market value of the land was $3,000. In 2012, when Lisa\u2019s entire interest\r\nin the partnership was liquidated, Dee\u2019s assets consisted\r\nof the following: cash, $20,000 and tangible property with a\r\nbasis of $46,000 and a fair market value of $40,000. Lisa\u2019s adjusted basis for her one-third\r\ninterest was $22,000. If this distribution were in complete liquidation of\r\n Reed\u2019s interest in Post, Reed\u2019s recognized gain or loss resulting\r\nfrom the distribution would be\t\r\na. If the partnership makes an occurs when the partnership business operations continue but the partnership terminates because there has been a sale or exchange of the requisite 50 percent capital and profits interests within 12 months.If the same interest (less than 50 percent) is sold more than once, only one sale is considered in determining whether more than 50 percent has been sold within 12 months.

,200. Lisa received cash of ,000 in liquidation\r\nof her entire interest.

On that date, Woodwest\u2019s\r\nbalance sheet was as follows:\r\n\t Cash \t\t,000\r\n\t Land (adjusted basis) 2,000\r\n\t\t Capital\u2014Stone \t\t,000\r\n\t\t Capital\u2014Frazier \t\t 1,000\r\n The fair market value of the land was ,000. In 2012, when Lisa\u2019s entire interest\r\nin the partnership was liquidated, Dee\u2019s assets consisted\r\nof the following: cash, ,000 and tangible property with a\r\nbasis of ,000 and a fair market value of ,000. Lisa\u2019s adjusted basis for her one-third\r\ninterest was ,000. If this distribution were in complete liquidation of\r\n Reed\u2019s interest in Post, Reed\u2019s recognized gain or loss resulting\r\nfrom the distribution would be\t\r\na.

If the partnership makes an occurs when the partnership business operations continue but the partnership terminates because there has been a sale or exchange of the requisite 50 percent capital and profits interests within 12 months.

If the same interest (less than 50 percent) is sold more than once, only one sale is considered in determining whether more than 50 percent has been sold within 12 months.

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