Which of the following is True concerning a partner's basis in assets (other than money) distributed in an operating distribution?
A) A partner's bases in the distributed assets will be greater than the partnership's bases in the assets.
B) A partner's bases in the distributed assets will be equal to the partnership's bases in the assets.
C) A partner's bases in the distributed assets will be less than or equal to the partnership's bases in the assets.
D) None of the statements are True.
Correct Answer:
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