In 2018, Wilmah Lansing invested in the Triple-K Limited Partnership by paying ($ 15,000) cash and signing
Question:
In 2018, Wilmah Lansing invested in the Triple-K Limited Partnership by paying \(\$ 15,000\) cash and signing a \(\$ 40,000\) nonrecourse note. She also pledged \(\$ 25,000\) worth of securities for a loan obtained by the partnership. Her basis in the securities was \(\$ 10,000\). What amount does Wilmah have at risk in Triple-K as of January 1, 2019, if the partnership broke even (no income or loss)?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
CCH Federal Taxation 2019 Comprehensive Topics
ISBN: 9780808049081
2019 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
Question Posted: