# Proportionate liquidating distribution

*15-Jun-2020 10:03*

This discussion of the tax consequences of contributions to partnerships will also apply to limited liability companies unless the limited liability company has elected to be taxed as a corporation.

How much gain or loss does Matt recognize; what is his basis in the property he received; and what is his remaining basis in the partnership interest? ,000 loss; ,000 basis in property; [[

How much gain or loss does Matt recognize; what is his basis in the property he received; and what is his remaining basis in the partnership interest? $3,000 loss; $12,000 basis in property; $0 remaining basis. $0 gain or loss; $15,000 basis in property; $0 remaining basis. $0 gain or loss; $20,000 basis in property; $15,000 remaining basis. $0 gain or loss; $12,000 basis in property; $23,000 remaining basis. $5,000 gain; $20,000 basis in property; $0 remaining basis. ,49 Martin has a basis in a partnership interest of $100,000.

These rules (a) allocate the partnership’s income, losses, deductions, and credit among the partners and (b) adjust basis to reflect each partner’s allocation of those items.

||How much gain or loss does Matt recognize; what is his basis in the property he received; and what is his remaining basis in the partnership interest? $3,000 loss; $12,000 basis in property; $0 remaining basis. $0 gain or loss; $15,000 basis in property; $0 remaining basis. $0 gain or loss; $20,000 basis in property; $15,000 remaining basis. $0 gain or loss; $12,000 basis in property; $23,000 remaining basis. $5,000 gain; $20,000 basis in property; $0 remaining basis. ,49 Martin has a basis in a partnership interest of $100,000. These rules (a) allocate the partnership’s income, losses, deductions, and credit among the partners and (b) adjust basis to reflect each partner’s allocation of those items.

]] remaining basis. [[How much gain or loss does Matt recognize; what is his basis in the property he received; and what is his remaining basis in the partnership interest? $3,000 loss; $12,000 basis in property; $0 remaining basis. $0 gain or loss; $15,000 basis in property; $0 remaining basis. $0 gain or loss; $20,000 basis in property; $15,000 remaining basis. $0 gain or loss; $12,000 basis in property; $23,000 remaining basis. $5,000 gain; $20,000 basis in property; $0 remaining basis. ,49 Martin has a basis in a partnership interest of $100,000.

These rules (a) allocate the partnership’s income, losses, deductions, and credit among the partners and (b) adjust basis to reflect each partner’s allocation of those items.

||How much gain or loss does Matt recognize; what is his basis in the property he received; and what is his remaining basis in the partnership interest? $3,000 loss; $12,000 basis in property; $0 remaining basis. $0 gain or loss; $15,000 basis in property; $0 remaining basis. $0 gain or loss; $20,000 basis in property; $15,000 remaining basis. $0 gain or loss; $12,000 basis in property; $23,000 remaining basis. $5,000 gain; $20,000 basis in property; $0 remaining basis. ,49 Martin has a basis in a partnership interest of $100,000. These rules (a) allocate the partnership’s income, losses, deductions, and credit among the partners and (b) adjust basis to reflect each partner’s allocation of those items.

]] gain or loss; ,000 basis in property; [[How much gain or loss does Matt recognize; what is his basis in the property he received; and what is his remaining basis in the partnership interest? $3,000 loss; $12,000 basis in property; $0 remaining basis. $0 gain or loss; $15,000 basis in property; $0 remaining basis. $0 gain or loss; $20,000 basis in property; $15,000 remaining basis. $0 gain or loss; $12,000 basis in property; $23,000 remaining basis. $5,000 gain; $20,000 basis in property; $0 remaining basis. ,49 Martin has a basis in a partnership interest of $100,000.

These rules (a) allocate the partnership’s income, losses, deductions, and credit among the partners and (b) adjust basis to reflect each partner’s allocation of those items.

||How much gain or loss does Matt recognize; what is his basis in the property he received; and what is his remaining basis in the partnership interest? $3,000 loss; $12,000 basis in property; $0 remaining basis. $0 gain or loss; $15,000 basis in property; $0 remaining basis. $0 gain or loss; $20,000 basis in property; $15,000 remaining basis. $0 gain or loss; $12,000 basis in property; $23,000 remaining basis. $5,000 gain; $20,000 basis in property; $0 remaining basis. ,49 Martin has a basis in a partnership interest of $100,000. These rules (a) allocate the partnership’s income, losses, deductions, and credit among the partners and (b) adjust basis to reflect each partner’s allocation of those items.

]] remaining basis. [[