Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps

تمرين 27

All of the following statements are correct concerning liquidating distributions of a partnership except: a. A loss can never be recognized.
B) A distribution of money in excess of basis causes a gain to be recognized..
C) Basis in a property distribution is allocated essentially the same as a nonliquidating distribution.
D) Generally, no gain or loss is recognized when the liquidating distribution consists only of property.