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What is the amount and character of bobby recognized gain

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Question - Abby and Bobby are equal partners in a Partnership. Bobby has an outside basis of $44,000. On December 31, the partnership makes a proportionate non-liquidating distribution of $50,000 cash to Bobby. What is the amount and character of Bobby's recognized gain or loss and what is his outside basis in the partnership after the distribution.

A. $0 gain, $0 basis

B. $6,000 capital gain, $0 basis

C. $6,000 capital loss, $0 basis

D. $6,000 capital gain, $44,000 basis

Reference no: EM132087683

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