randolph is a 30 percent partner in the rd partnership. on january 1, rd distributes $16,000 cash and inventory with a fair value of $45,800 (inside basis of $22,900) to randolph in complete liquidation of his interest. rd has no liabilities at the date of the distribution. randolph's basis in his rd partnership interest is $41,050. what is the amount and character of randolph's gain or loss on the distribution?
Business
Views: 0 Asked: 07-30 09:14:17
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