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Alyce owns a 30% interest in a continuing partnership. The partnership distributes a $35,000 year-end cash payment to Alyce. In a proportionate nonliquidating distribution, the partnership also distributed property (basis of $20,000, fair market value of $30,000) to Alyce. Immediately before the distributions of cash and property, Alyce's basis in the partnership interest was $60,000. As a result of the distribution, Alyce recognizes:
Opposition
A position or movement against something, often referring to a disapproval or resistance against proposals, policies, or authorities.
Relationships
Connections or associations between people, groups, or objects, characterized by a certain level of involvement or interaction.
Subalternate
In Aristotelian logic, a term that refers to the relationship between particular and universal propositions where the truth of the universal necessitates the truth of the particular.
Quality
A measure of how good something is in relation to similar types of things; its level of excellence.
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