Yolanda and Jubain contribute $50,000 each to a partnership in exchange for a 50% interest each. The partnership borrows $1.9 million on a nonrecourse basis and the partnership purchases a building for $2 million. The building is put in service on January 1st and the partnership claims $200,000 of depreciation per year. Assume that none of the debt is payable until the end of the 10th year of the At the end of the second year, the partnership will have partnership minimum gain and nonrecourse deductions for that year equal to:

$200,000 $200,000

$200,000, $100,000

$300,000, $200,000

$200,000, $300,000

Answer rating: 100% (QA)

Names Yoland Contribution 50... View the full answer