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hello and welcome to this session in which we will discuss the liquidating distribution of a partnership in a prior session we looked at non-liquidating distribution and the difference between the two is in the liquidating distribution the partnership simply put its closing were closing the business were closing all the accounts and that matters that thats relevant to understand whats liquidating because we have to deal with basis and when were liquidating we have to get rid of the bases we are gone the basis should go down to zero so the nature of the liquidating distribution can take place as a singular event simply put you can you know close the business in one event or may occur in a series of event they could close the business in various steps the end of the day the partners is exiting the partnership simply put the partner is gone the business is closed and the partners will exit from the partnership is the end product so when the partnership liquidate proportionally rememb
