Which of the following statements is true regarding partnership operating distributions?
A. If a partner's outside basis is greater than the bases of the assets distributed in an operating distribution, the partner will recognize a gain.
B. If a partner's outside basis is greater than the bases of the assets distributed in an operating distribution, the partner will recognize a loss.
C. If a partner's outside basis is less than the bases of the assets distributed in an operating distribution, the partner will recognize a loss.
D. None of the statements are true.
Answer: D
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