[Anonymous]

Hi,

I am a little confused on what basis a partner recognizes for the non-liquidating distribution of a property, which one is it:

Lessor of:

1. Partners Basis – Cash = Remaining Basis (*before property distribution)

2. Partnerships adj. Basis in Property

OR

Lessor of:

1. Partners Basis – Cash – Property Distribution = Remaining Basis (*after property distribution, if it doesn’t equal zero)

2. Partnerships adj. Basis in Property

Also is there a difference if it was a liquidating distribution?

Any help in helping me clarify this would help me greatly!

Thanks in advance!