Bamabob23
Level 1
12-22-2021
01:07 PM
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abctax55
Level 15
12-22-2021
01:59 PM
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I'm curious what an "asset purchase sale" actually is?
And generally income is realized AND recognized when the cash changes hands.
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raycpa99
Level 1
02-26-2022
03:26 PM
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It means the buyer bought the assets from the partnership rather than buying the partnership interest from the partner. Its an asset sale rather than a sale of partnership interest.