assets 300000 basic value 400000 nonrecourse debt 500000 basic 5000000 value if partners capita; account is...
assets 300000 basic value 400000 nonrecourse debt 500000 basic 5000000 value
if partners capita; account is (1000000) what is minimun gain charge back if partnership taxable income is 20000 and iabilies are reduce by 150000
Homework Answers
Solution:
We are given:
Non-recourse debt=350,000
Adjusted basis=300,000
Minimum gain = Non-recourse debt - Adjusted basis
= 350,000 - 300,000
= 50,000
Add Answer to:
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