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Dan receives a proportionate nonliquidating distribution when the basis of his partnership interest is $30,000.The distribution consists of $10,000 in cash and property with an adjusted basis to the partnership of $24,000 and a fair market value of $26,500.Dan's basis in the noncash property is:
Bond Sinking Fund
A method employed by issuers of bonds to set aside money over time to retire their debt at maturity.
Retired Immediately
A term typically referring to the full settlement or pay off of an obligation or liability at the time of its maturity.
Carrying Value
The book value of an asset on a company's balance sheet, calculated as the original cost minus accumulated depreciation or amortization.
Semiannual Interest
Interest calculated and paid twice a year on an investment or loan.
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