Episode
Enrolled Agent Exam [Part 2] 10, Partnership Distributions — Cash and Property
- Podcast
- Finance Exam Prep
- Published
- May 7, 2026
- Duration seconds
- 210
- Processing state
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- https://open-exam-prep.com/
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Summary
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Gain is recognized by a partner only when a cash distribution exceeds their outside basis. - A partner's basis in distributed property is generally a carryover basis from the partnership, but it cannot exceed the partner's outside basis in their interest. - The key difference between a current (non-liquidating) and a liquidating distribution lies in how the basis of distributed property is determined and whether a loss can be recognized. - Marketable securities are often treated as cash in partnership distributions, which can trigger unexpected gains. - A loss can only be recognized on a liquidating distribution that consists exclusively of cash, unrealized receivables, and inventory.