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Oscar is retiring from the jms partnership in january of

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Oscar is retiring from the JMS Partnership. In January of the current year, he has a $120,000 basis in his partnership interest when he receives a $12,000 cash distribution. The partnership plans to distribute $12,000 each month this year, and Oscar will cease to be a partner after the December payment. Is the January payment to Oscar a current distribution or a liquidating distribution?

Reference no: EM13569263

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