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:

Autonomy

stands for the right or condition of self-governance; the ability of an individual to make independent choices.

Nonmaleficence

A core ethical principle in healthcare that obligates healthcare providers to refrain from causing harm to patients.

Informed Consent

A process by which a patient or participant is fully informed about the procedures and risks involved in a medical treatment or research study and voluntarily agrees to participate.

Self-Determination

The process by which an individual controls their own life, making decisions and setting goals independently.