Proportionate nonliquidating

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? proportionate nonliquidating-33 basis in accounts receivable; ,000 basis in inventory; ,000 loss.

In addition, the partnership repays all liabilities, of which Sam’s share was ,000. Parcel A has a basis of ,000 to the partnership and Parcel B has a basis of ,000. Nicky’s basis in her partnership interest was 0,000, including her ,000 share of partnership liabilities. How much gain or loss does Misha recognize, and what is her basis in the distributed inventory and in her partnership interest following the distribution?

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize?

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize?

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize?

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize?

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize?

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize?

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize?

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize?

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize?

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? proportionate nonliquidating-33 basis in accounts receivable; ,000 basis in inventory; ,000 loss.

In addition, the partnership repays all liabilities, of which Sam’s share was ,000. Parcel A has a basis of ,000 to the partnership and Parcel B has a basis of ,000.

Nicky’s basis in her partnership interest was 0,000, including her ,000 share of partnership liabilities.

How much gain or loss does Misha recognize, and what is her basis in the distributed inventory and in her partnership interest following the distribution? [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in partnership interest. [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss; ,000 basis in inventory; ,000 basis in partnership interest. ,000 capital gain; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in partnership interest. ,000 capital gain; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in partnership interest. ,000 ordinary income; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in inventory; ,000 basis in partnership interest.8.

At the end of the last tax year, Nicholas’s basis in his interest was ,000, including his ,000 share of LLC liabilities. In addition, Beth receives an antique desk (not inventory) which has an inside basis and fair market value of [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] and ,000, respectively.

Nicholas is a 25% owner in the DDBN LLC (a calendar year entity). On that date the partnership liquidates and distributes to Beth a proportionate distribution of ,000 cash and inventory with an inside basis to the partnership of ,000 and a fair market value of ,000.

Ashleigh’s basis in the entity immediately before the distribution was ,000. Jonathon owns a one-third interest in a liquidating partnership.

basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 gain. During the current tax year, DDBN’s taxable income is 0,000 (earned evenly during the year). ,000 basis; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] ordinary income; ,000 capital gain. ,000 basis; ,000 ordinary income; ,000 capital gain. Nicky receives ,000 cash and accounts receivable with a ,000 basis and a ,000 fair market value to the partnership.

basis in accounts receivable; ,000 basis in inventory; ,000 loss. [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 gain. During the current tax year, DDBN’s taxable income is 0,000 (earned evenly during the year). ,000 basis; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] ordinary income; ,000 capital gain. ,000 basis; ,000 ordinary income; ,000 capital gain. Nicky receives ,000 cash and accounts receivable with a ,000 basis and a ,000 fair market value to the partnership.

basis in accounts receivable; ,000 basis in inventory; ,000 loss. [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 gain. During the current tax year, DDBN’s taxable income is 0,000 (earned evenly during the year). ,000 basis; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] ordinary income; ,000 capital gain. ,000 basis; ,000 ordinary income; ,000 capital gain. Nicky receives ,000 cash and accounts receivable with a ,000 basis and a ,000 fair market value to the partnership.

basis in accounts receivable; ,000 basis in inventory; ,000 loss. [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 gain. During the current tax year, DDBN’s taxable income is 0,000 (earned evenly during the year). ,000 basis; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] ordinary income; ,000 capital gain. ,000 basis; ,000 ordinary income; ,000 capital gain. Nicky receives ,000 cash and accounts receivable with a ,000 basis and a ,000 fair market value to the partnership.

basis in accounts receivable; ,000 basis in inventory; ,000 loss. [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 gain.

basis in accounts receivable; ,000 basis in inventory; ,000 loss. [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 gain. During the current tax year, DDBN’s taxable income is 0,000 (earned evenly during the year). ,000 basis; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] ordinary income; ,000 capital gain. ,000 basis; ,000 ordinary income; ,000 capital gain. Nicky receives ,000 cash and accounts receivable with a ,000 basis and a ,000 fair market value to the partnership.

basis in accounts receivable; ,000 basis in inventory; ,000 loss. [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 gain.

basis in accounts receivable; ,000 basis in inventory; ,000 loss. [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 gain.

basis in accounts receivable; ,000 basis in inventory; ,000 loss. [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 gain.

basis in accounts receivable; ,000 basis in inventory; ,000 loss. [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 gain. During the current tax year, DDBN’s taxable income is 0,000 (earned evenly during the year). ,000 basis; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] ordinary income; ,000 capital gain. ,000 basis; ,000 ordinary income; ,000 capital gain. Nicky receives ,000 cash and accounts receivable with a ,000 basis and a ,000 fair market value to the partnership.

gain or loss; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in partnership interest. [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss; ,000 basis in inventory; ,000 basis in partnership interest. ,000 capital gain; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in partnership interest. ,000 capital gain; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in partnership interest. ,000 ordinary income; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] basis in inventory; ,000 basis in partnership interest.8. At the end of the last tax year, Nicholas’s basis in his interest was ,000, including his ,000 share of LLC liabilities. In addition, Beth receives an antique desk (not inventory) which has an inside basis and fair market value of [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] and ,000, respectively. Nicholas is a 25% owner in the DDBN LLC (a calendar year entity). On that date the partnership liquidates and distributes to Beth a proportionate distribution of ,000 cash and inventory with an inside basis to the partnership of ,000 and a fair market value of ,000. Ashleigh’s basis in the entity immediately before the distribution was ,000. Jonathon owns a one-third interest in a liquidating partnership.

basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; [[

How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain. During the current tax year, DDBN’s taxable income is $120,000 (earned evenly during the year). $75,000 basis; $0 ordinary income; $20,000 capital gain. $75,000 basis; $6,000 ordinary income; $14,000 capital gain. Nicky receives $30,000 cash and accounts receivable with a $50,000 basis and a $48,000 fair market value to the partnership.

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How much capital gain and/or ordinary income will Lillie recognize on the sale? As a result of the distribution, what is Sara’s basis in the accounts receivable and inventory, and how much gain or loss does she recognize? $0 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $0 basis in accounts receivable; $80,000 basis in inventory; $0 gain or loss. $40,000 basis in accounts receivable; $40,000 basis in inventory; $0 gain or loss. $30,000 basis in accounts receivable; $50,000 basis in inventory; $30,000 loss. $30,000 basis in accounts receivable; $60,000 basis in inventory; $10,000 gain.

]] gain or loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 loss. ,000 basis in accounts receivable; ,000 basis in inventory; ,000 gain.

[[ proportionate nonliquidating-61proportionate nonliquidating-17 || proportionate nonliquidating-33 ]]

In a proportionate liquidating distribution, Ashleigh receives a distribution of $30,000 cash, accounts receivable (basis of $0, fair market value of $40,000), and land (basis of $40,000, fair market value of $50,000).

In addition, the partnership repays all liabilities, of which Ashleigh’s share was $70,000.

Mack has a basis in a partnership interest of $200,000, including his share of partnership debt. Immediately before the distributions of cash and property, Alyce’s basis in the partnership interest was $60,000.

How much gain or loss does Mark recognize; what is his basis in the property he received; and what is his remaining basis in the partnership interest? $25,000 loss; $25,000 basis in property; $0 remaining basis. $30,000 loss; $30,000 basis in property; $0 remaining basis. $0 gain or loss; $25,000 basis in property; $25,000 remaining basis. $0 gain or loss; $30,000 basis in property; $20,000 remaining basis. $0 gain or loss; $20,000 basis in property; $30,000 remaining basis.3. In a proportionate nonliquidating distribution, the partnership also distributed property (basis of $20,000, fair market value of $30,000) to Alyce.

In a proportionate liquidating distribution, Sam receives a distribution of $30,000 cash, accounts receivable (basis of $0, fair market value of $50,000), and land (basis of $20,000, fair market value of $50,000). The partnership distributes cash of $32,000 and two parcels of land (each with a fair market value of $10,000).

[[

In addition, the partnership repays all liabilities, of which Sam’s share was $40,000. Parcel A has a basis of $2,000 to the partnership and Parcel B has a basis of $6,000. Nicky’s basis in her partnership interest was $150,000, including her $40,000 share of partnership liabilities. How much gain or loss does Misha recognize, and what is her basis in the distributed inventory and in her partnership interest following the distribution? $0 gain or loss; $10,000 basis in inventory; $0 basis in partnership interest. $0 gain or loss; $20,000 basis in inventory; $50,000 basis in partnership interest. $20,000 capital gain; $0 basis in inventory; $0 basis in partnership interest. $20,000 capital gain; $10,000 basis in inventory; $0 basis in partnership interest. $20,000 ordinary income; $0 basis in inventory; $20,000 basis in partnership interest.8. At the end of the last tax year, Nicholas’s basis in his interest was $50,000, including his $20,000 share of LLC liabilities. In addition, Beth receives an antique desk (not inventory) which has an inside basis and fair market value of $0 and $5,000, respectively. Nicholas is a 25% owner in the DDBN LLC (a calendar year entity). On that date the partnership liquidates and distributes to Beth a proportionate distribution of $50,000 cash and inventory with an inside basis to the partnership of $10,000 and a fair market value of $16,000. Ashleigh’s basis in the entity immediately before the distribution was $60,000. Jonathon owns a one-third interest in a liquidating partnership.

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In addition, the partnership repays all liabilities, of which Sam’s share was $40,000. Parcel A has a basis of $2,000 to the partnership and Parcel B has a basis of $6,000.

Nicky’s basis in her partnership interest was $150,000, including her $40,000 share of partnership liabilities.

How much gain or loss does Misha recognize, and what is her basis in the distributed inventory and in her partnership interest following the distribution? $0 gain or loss; $10,000 basis in inventory; $0 basis in partnership interest. $0 gain or loss; $20,000 basis in inventory; $50,000 basis in partnership interest. $20,000 capital gain; $0 basis in inventory; $0 basis in partnership interest. $20,000 capital gain; $10,000 basis in inventory; $0 basis in partnership interest. $20,000 ordinary income; $0 basis in inventory; $20,000 basis in partnership interest.8.

At the end of the last tax year, Nicholas’s basis in his interest was $50,000, including his $20,000 share of LLC liabilities. In addition, Beth receives an antique desk (not inventory) which has an inside basis and fair market value of $0 and $5,000, respectively.

Nicholas is a 25% owner in the DDBN LLC (a calendar year entity). On that date the partnership liquidates and distributes to Beth a proportionate distribution of $50,000 cash and inventory with an inside basis to the partnership of $10,000 and a fair market value of $16,000.

Ashleigh’s basis in the entity immediately before the distribution was $60,000. Jonathon owns a one-third interest in a liquidating partnership.

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In addition, the partnership repays all liabilities, of which Sam’s share was $40,000. Parcel A has a basis of $2,000 to the partnership and Parcel B has a basis of $6,000.

Nicky’s basis in her partnership interest was $150,000, including her $40,000 share of partnership liabilities.

How much gain or loss does Misha recognize, and what is her basis in the distributed inventory and in her partnership interest following the distribution? $0 gain or loss; $10,000 basis in inventory; $0 basis in partnership interest. $0 gain or loss; $20,000 basis in inventory; $50,000 basis in partnership interest. $20,000 capital gain; $0 basis in inventory; $0 basis in partnership interest. $20,000 capital gain; $10,000 basis in inventory; $0 basis in partnership interest. $20,000 ordinary income; $0 basis in inventory; $20,000 basis in partnership interest.8.

At the end of the last tax year, Nicholas’s basis in his interest was $50,000, including his $20,000 share of LLC liabilities. In addition, Beth receives an antique desk (not inventory) which has an inside basis and fair market value of $0 and $5,000, respectively.

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