Keith holds 85% partnership interest and is a general partner in Nite Time Investigations. Kenny holds a
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Keith holds 85% partnership interest and is a general partner in Nite Time Investigations. Kenny holds a 15% limited partnership interest. The partnership obtained a non-recourse loan to purchase new equipment. The lender required Keith to guarantee the loan personally. How does this affect the basis for Keith and Kenny?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: