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At the Beginning of the Current Year, Harrison's Adjusted Basis

Question 21

Multiple Choice

At the beginning of the current year, Harrison's adjusted basis in FLM Partnership is $50,000. During the year, Harrison receives a cash distribution of $25,000. How much income must Harrison recognize because of the cash received?


A) $- 0 -
B) $10,000
C) $15,000
D) $20,000
E) $25,000

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