Question

Van makes an investment in a partnership in 2014. Van’s capital contributions to the partnership consisted of $30,000 cash and a building with an adjusted basis of $70,000, subject to a nonrecourse liability of (seller financing) $20,000.
a. Calculate the amount that Van has at risk in the activity immediately after making the capital contributions.
$______________
b. If Van’s share of the loss from the partnership is $100,000 in 2014, and assuming that Van has sufficient amounts of passive income, how much of the loss may he deduct in 2014?
$______________
c. What may be done with the nondeductible part of the loss in Part b?
$ ______________


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  • CreatedJuly 16, 2015
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