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Randolph is a 30% partner in the RD Partnership. On January 1st, RD distributes $37,000 cash to Randolph in complete liquidation of his interest. RD has only capital assets and no liabilities at the date of the distribution. Randolph’s basis in RD is $26,000. What is the amount and character of Randolph’s gain or loss on the distribution?

SEMI –

SEMI –

IDDM –

Rx –

ENT –

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OB –

TB –

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