Which of the Following Statements Is True Regarding Partnership Operating

question 36

Multiple Choice

Which of the following statements is True regarding partnership operating distributions?

• A) Partners will never recognize a gain on an operating distribution.
• B) Partners receiving a distribution of property other than money will take a basis in the property equal to its fair market value.
• C) Partners will never recognize a loss on an operating distribution.
• D) None of the statements are True.

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