partnership minimum gain chargeback

USA Discussion in 'Businesses / Corporations' started by ledburyg, Oct 14, 2018.

  1. ledburyg

    ledburyg

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    a partnership has the following assets and liabilities before any reduction for year end principal payments on the liabilities. assume the book basis and tax basis are the same
    basis value
    assets 300000 400000
    non recourse 500000 500000
    debt
    if the partners have a deficit in their capital accounts of (100000)what is the amount of minimum gain chargeback if the partnership taxable loss for the year is (20000) and the liabilities are reduced by 250000

    0
    20000
    50000
    100000
     
    ledburyg, Oct 14, 2018
    #1
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