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In a Proportionate Liquidating Distribution in Which the Partnership Is

Question 94

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In a proportionate liquidating distribution in which the partnership is liquidated, Greg received cash of $20,000, inventory (basis of $2,000, fair market value of $3,000), and a capital asset (basis and fair market value of $4,000). Immediately before the distribution, Greg's basis in the partnership interest was $30,000.
In a proportionate liquidating distribution in which the partnership is liquidated, Greg received cash of $20,000, inventory (basis of $2,000, fair market value of $3,000), and a capital asset (basis and fair market value of $4,000). Immediately before the distribution, Greg's basis in the partnership interest was $30,000.

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