Surprising Tax on Distributions From a Partnership

<p><span style= "font-size: 12.0pt; font-family: 'Times New Roman',serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"> Explanation of the Tax Court's ruling in Clark Raymond & Co. v. Comm'r and their book of business distributions after the termination of a partnership.</span></p> <p><span style= "font-size: 12.0pt; font-family: 'Times New Roman',serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"> <a href="http://actec.org/"><span style="color: blue;">The American College of Trust and Estate Counsel</span></a><span style= "color: black;">, ACTEC, is a professional society of peer-elected trust and estate lawyers in the United States and around the globe. This series offers professionals best practice advice, insights and commentary on subjects that affect the profession and clients. Learn more in this podcast.</span></span></p>