dentify which of the following statements is true.
A) Although a partner's basis in the partnership cannot go below zero, a partner's book capital account (equity) may be negative.
B) Tom purchased for cash a 40% capital, profits, and loss interest in the TP General Partnership. His $140,000 basis in his partnership interest includes his $45,000 share of recourse debt and his $30,000 of nonrecourse debt (that is not qualified nonrecourse real estate financing). His at-risk basis cannot be more than $65,000.
C) Terri is a limited partner in the STU Partnership, which manufactures children's toys. Because the partnership is actively involved in a trade or business, Terri's income from the partnership is classified as active income for the passive activity loss rules.
D) All of the above are false.
A) Although a partner's basis in the partnership cannot go below zero, a partner's book capital account (equity) may be negative.
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Role ________ techniques allow negotiators to understand more completely the other party's positions by actively arguing these positions until the other party is convinced that they are understood.
Fill in the blank(s) with the appropriate word(s).
Top managers use social intelligence to define the future of the business, analyzing markets, industries and economies to determine the strategic direction the company must follow to remain unprofitable.
Answer the following statement true (T) or false (F)
For which of the following situations is a consumer's purchase behavior most likely to be characterized by extended problem solving?
A. selection of a restaurant for lunch with friends B. purchase of a new set of skis by an avid skier C. purchase of laundry detergent D. purchase of a brilliant-cut diamond wedding ring E. selection of frozen meat
Michelle is an active participant in the rental condominium property she owns. During the year, the property generates a ($15,000) loss; however, Michelle has sufficient tax basis and at-risk amounts to absorb the loss. If Michelle has $115,000 of salary, $10,000 of long-term capital gains, $3,000 of dividends, and no additional sources of income or deductions, how much loss can Michelle deduct?
A. $11,000. B. $15,000. C. $4,000. D. $0; losses from rental property are passive losses and can only be offset by passive income. E. None of the choices are correct.