Loss Cannot Be Recognized on a Distribution from a Partnership

question 117

True/False

Loss cannot be recognized on a distribution from a partnership unless cash, unrealized receivables, and/or § 1231 assets are the only items distributed.

---

Definitions:

Underweight

A term describing a person whose body weight is considered too low to be healthy, often assessed in relation to an individual's height using the body mass index (BMI).

Overweight

A condition where a person weighs more than is considered normal or healthy, often measured as a body mass index (BMI) over 25.

Hysteria

Historically, a medical diagnosis primarily assigned to women, attributed to disturbances of the uterus and considered manifest through emotional excess, now regarded as an outdated and sexist term.

Somatization Disorder

A mental disorder characterized by the presentation of physical symptoms that suggest illness or injury, but which cannot be fully explained by a medical condition.