The JIH Partnership Distributed the Following Assets to Partner James

question 15

Essay

The JIH Partnership distributed the following assets to partner James in a proportionate liquidating distribution in which the partnership is liquidated: $25,000 cash, land parcel A (basis of $5,000, fair market value of $30,000), and land parcel B (basis of $5,000, fair market value of $15,000). James's basis in his partnership interest was $85,000 immediately before the distribution.

---

Definitions:

Subsidiary

A “child” company to a parent company; the parent company owns 100% of the subsidiary’s operations.

International Business

Commercial transactions that occur across country borders, involving the trade of goods, services, technology, capital, or knowledge.

International Strategy

a plan deployed by companies to expand their operations and market footprint across multiple countries, adapting to different cultural and economic environments.

Organizational Culture

Organizational culture describes the shared beliefs, values, norms, and practices that shape the social and psychological environment of a business, influencing employee behavior and corporate identity.