Match the following statements with the best match from the following choices. Choice M may be used more than once.
-Service-providing partnership
A)Includes the partner's share of partnership liabilities.
B)Could result from sale of a partnership interest for more than the partner's share of the inside basis of assets.
C)Liquidation payments from this type of partnership are always § 736b) payments.
D)Could arise if a distribution results in loss to the distributee partner.
E)May be a § 736a) payment.
F)May receive § 736a) payments.
G)Probably treated as a general partner for § 736 purposes
H)Conversion of an LLC to a C corporation
I)Liquidation payments from this type of partnership may include § 736a) payments.
J)A § 736b) payment.
K)Adjustment designed to bring inside and outside bases into balance.
L)Partnership asset basis is at least $250,000 FMV.
M)No correct match is provided.

Question

Match the following statements with the best match from the following choices. Choice M may be used more than once.
-Service-providing partnership
A)Includes the partner's share of partnership liabilities.
B)Could result from sale of a partnership interest for more than the partner's share of the inside basis of assets.
C)Liquidation payments from this type of partnership are always § 736b) payments.
D)Could arise if a distribution results in loss to the distributee partner.
E)May be a § 736a) payment.
F)May receive § 736a) payments.
G)Probably treated as a general partner for § 736 purposes
H)Conversion of an LLC to a C corporation
I)Liquidation payments from this type of partnership may include § 736a) payments.
J)A § 736b) payment.
K)Adjustment designed to bring inside and outside bases into balance.
L)Partnership asset basis is at least $250,000 > FMV.
M)No correct match is provided.

Quizplus · Accepted Answer

The Answer of Match the following statements with the best match from the following choices. Choice M may be used more than once.
-Service-providing partnership
A)Includes the partner's share of partnership liabilities.
B)Could result from sale of a partnership interest for more than the partner's share of the inside basis of assets.
C)Liquidation payments from this type of partnership are always § 736b) payments.
D)Could arise if a distribution results in loss to the distributee partner.
E)May be a § 736a) payment.
F)May receive § 736a) payments.
G)Probably treated as a general partner for § 736 purposes
H)Conversion of an LLC to a C corporation
I)Liquidation payments from this type of partnership may include § 736a) payments.
J)A § 736b) payment.
K)Adjustment designed to bring inside and outside bases into balance.
L)Partnership asset basis is at least $250,000 > FMV.
M)No correct match is provided.

Match the Following Statements with the Best Match from the Following