Liquidating distributions from a partnership, Accounting Basics

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Liquidating distributions from a partnership

Problem: Which of the following is not correct regarding the general rule for liquidating distributions from a partnership to a partner? a. There is no gain to the distributee partner, unless the cash distributed exceeds the basis in the partnership interest. b. There is no loss to the distributee partner. c. There is no gain to the distributing partnership. d. There is no loss to the distributing partnership.

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Accounting Basics: Liquidating distributions from a partnership

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