Kristen and Harrison are equal partners in the KH Partnership. The partners formed the partnership...
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Accounting
Kristen and Harrison are equal partners in the KH Partnership. The partners formed the partnership years ago by contributing cash. Prior to any distributions Harrison has a basis in his partnership interest of $ On December KH makes a nonliquidating distribution of $ cash to Harrison. What is the amount and character of Harrison's recognized gain or loss and what is his remaining basis in KH
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