Normally a Distribution of Property from a Partnership Does Not

question 92

True/False

Normally a distribution of property from a partnership does not result in gain recognition. However, a distribution of marketable securities may be treated in part as a distribution of cash that could result in gain recognition.

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Definitions:

Comprehensive Environmental Response, Compensation, and Liability Act

A U.S. federal law, established to clean up sites contaminated with hazardous substances and pollutants.

Alpha Particle

A type of ionizing radiation consisting of two protons and two neutrons, emitted from the nucleus of an atom during radioactive decay.

Atomic Nucleus

The central core of an atom, containing protons and neutrons and holding most of the atom's mass.

Ionizing Power

The ability of a chemical or physical agent to ionize atoms or molecules by altering their charge through the removal or addition of electrons.