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Heidi and Teresa are equal partners in the HT Partnership. The partners formed the partnership seven years ago by contributing cash. Prior to any distributions, the partners each have a $50,000 basis in their partnership interests. On December 31, the partnership makes a pro rata operating distribution to Heidi of $60,000 cash. What is the amount and character of Heidi's recognized gain or loss? What is Heidi's remaining basis in HT?
Obsessive-Compulsive Disorder
A mental disorder characterized by unwanted recurring thoughts (obsessions) and repetitive behaviors (compulsions) that an individual feels driven to perform.
Hyperactive
Characterized by more movement and activity than is typical or desirable, often to the point of being disruptive, as in certain attention disorders.
Disruptive Mood Dysregulation Disorder
Disruptive Mood Dysregulation Disorder is a mental health condition characterized by severe and recurrent temper outbursts that are disproportionate to the situation.
Major Depressive Disorder
A mental health disorder characterized by persistent and intense feelings of sadness and despair that affect functioning.
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