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Becky has a $24,000 basis in her partnership interest. she receives a current distribution of $4,000 cash, unrealized receivables with a basis of $12,000 and an fmv of $16,000, and land held as an investment with a basis of $3,000 and an fmv of $8,000. the partners' relative interests in the sec. 751 assets do not change as a result of the current distribution. the basis of her partnership interest following the distribution is
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Becky has a $24,000 basis in her partnership interest. she receives a current distribution of $4,000...
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