Match the following independent descriptions as hot i.e., ordinary income-producing) or nonhot assets with the following statements.
-Inventory with a basis of $10,000 and a fair market value of $10,500.
A)Hot assets for purposes of distributions, liquidation of a partnership interest under § 736, and sale of a partnership interest.
B)May be a hot asset for some but not all the purposes stated in a).
C)Not a hot asset.

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The Answer of Match the following independent descriptions as hot i.e., ordinary income-producing) or nonhot assets with the following statements.
-Inventory with a basis of $10,000 and a fair market value of $10,500.
A)Hot assets for purposes of distributions, liquidation of a partnership interest under § 736, and sale of a partnership interest.
B)May be a hot asset for some but not all the purposes stated in a).
C)Not a hot asset.

Match the Following Independent Descriptions as Hot I