For purposes of determining gain on a current distribution to a partner, a distribution of cash includes relief of a partner's share of partnership liabilities and certain distributions of marketable securities.

Question

Quizplus · Accepted Answer

According to the Internal Revenue Code, a distribution of cash includes relief of a partner's share of partnership liabilities and certain distributions of marketable securities for purposes of determining gain.

For Purposes of Determining Gain on a Current Distribution to a Partner