Back to Forum
Double-counting of liabilities
Tom-65170 - 01/24/2020, 12:54 am
IND RPP

“His current adjusted basis in the partnership is $50,000, which includes his share of partnership liabilities of $10,000.”

If the above INCLUDES his share of partnership liabilities of $10,000,( (total basis of $50,000 =initial investment of $40,000 + $10,000 partnership liabilities), then why is the answer adding another $10,000?

Reply
Comment
Report
0