When Must a Partnership Make Mandatory Basis Adjustments

question 29

Multiple Choice

When must a partnership make mandatory basis adjustments?

• A)on any sale of a 20% or greater partnership interest
• B)on any sale of a partnership interest for $250,000 or more
• C)on any distribution of assets with a value of $250,000 or more
• D)on any sale of a partnership interest where the partnership's adjusted basis in its assets exceeds their fair market value by $250,000 or more

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Definitions:

Neutrophils

A type of white blood cell and the most abundant type of granulocyte, playing a vital role in defending the body against infections by ingesting pathogens.

Macrophages

Large white blood cells that ingest and destroy pathogens, dead cells, and cellular debris.

Chemotaxis

The movement of an organism or cell in response to a chemical stimulus.

Amoeboid Motion

A type of movement characterized by a cell's ability to alter its shape, primarily seen in amoebas and some white blood cells.