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Business & Finance Assignment | Custom Assignment Help

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October 9th, 2019

What is the tax treatment to a partner who receives the distribution assuming the partnership has made a Section 754 election. The distribution was cash of $60,000 and inventory of $30,000. The partner’s basis before the distribution was $50,000. What is the gain or loss for the partner, the cash basis after the distribution, inventory basis, and Section 734 Adjustment?  Get Business & Finance homework help today.

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