Business, 27.08.2019 01:10 ptrlvn01

Sarah is a 50% partner in the sf partnership and has an outside basis of $56,000 at the end of the year prior to any distributions. on december 31, sarah receives a proportionate operating distribution of $20,000 cash. what is the amount and character of sarah's recognized gain or loss and what is her basis in her partnership interest?

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Sarah is a 50% partner in the sf partnership and has an outside basis of $56,000 at the end of the y...

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