Ariel Receives from Her Partnership a Nonliquidating Distribution of $9,000

question 137

Multiple Choice

Ariel receives from her partnership a nonliquidating distribution of $9,000 cash plus a parcel of land.The partnership had purchased the land five years ago for $20,000,but it is worth $28,000 at the time of the distribution.Ariel's predistribution basis is $17,000.How much income will Ariel recognize due to the distribution,and what is her basis in the land?

---

Definitions:

Gastroenteritis

An inflammation of the stomach and intestines, usually resulting from bacterial toxins or viral infection and causing vomiting and diarrhea.

Arterial Blood Gas

A test measuring the levels of oxygen, carbon dioxide, and bicarbonate, as well as the pH of arterial blood, used to assess lung function and oxygenation status.

Urine Output

The amount of urine produced by the kidneys and excreted by the body, an important measure in assessing kidney and overall fluid balance status in patients.

Medicated IV

Intravenous delivery of medication, where drugs are administered directly into the veins for fast absorption and effect.