10 In a liquidating distribution Ann receives cash of $3,000, inventory in which the partnership's basis was $1,800, and land in which the partnership's basis was $10,000. Her basis in her interest was $25,000. What's her gain or loss on the distribution? What's her basis in the inyentory? What's her basis in the land? Now suppose only the cash and inventory were distributed and not the land gain or loss wvould she have and what would her basis in the inventory be? how much
10 In a liquidating distribution Ann receives cash of $3,000, inventory in which the partnership's basis was $1,800, and land in which the partnership's basis was $10,000. Her basis in her interest was $25,000. What's her gain or loss on the distribution? What's her basis in the inyentory? What's her basis in the land? Now suppose only the cash and inventory were distributed and not the land gain or loss wvould she have and what would her basis in the inventory be? how much
Chapter4: Corporations: Organization And Capital Structure
Section: Chapter Questions
Problem 19CE
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