Cash basis liquidating distributions


22-Sep-2020 04:32

As a result, the tax effects of a partnership that makes liquidating distributions only impacts the partners who receive them.

Until or unless a shareholder recovers her total investment, the amount reported on a 1099-DIV is not considered taxable income.Before you can figure out the tax effects of the liquidation, you'll need to know your adjusted tax basis in the partnership.



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