Generally, a Distribution of Property Does Not Result in a Gain

question 151

True/False

Generally, a distribution of property does not result in a gain to a partner on either a current or liquidating distribution.
A situation in which a gain may arise, however, is when a partner contributed appreciated property to the partnership and that property is distributed back to that same contributing partner within seven years of the contribution.

---

Definitions:

Split Button

A user interface control that combines a button and a dropdown menu, offering both a default action and additional options.

Arrange All

A function typically found in software applications that organizes open windows or documents in a systematic view.

Multiple Pages

A term used to describe documents or websites that span over several pages or screens, requiring navigation to view all content.

Read Mode

A viewing option in document editing software that optimizes the screen for easier reading, often hiding editing tools.