In a Current Distribution, the Partner's Basis in the Partnership

question 49

True/False

In a current distribution, the partner's basis in the partnership interest is reduced by the amount of money received and by the partnership's bases in the distributed property.

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Definitions:

Predetermined Time Standard

A method used in industrial engineering and time management to estimate the time required for completing a task based on standard time units.

TMU

Time Measurement Unit, a standard unit used in time study and work measurement for setting standard times for tasks.

Time Measurement Unit

A standard unit of time used in work measurement and time studies to assess the time required for tasks.

Therblig

A basic motion element used in motion study to analyze the physical movements needed to perform a manual operation or task.