Could you explain the non recourse beginning and end figures? K Partner's share of liabilities: Beginning Nonrecourse.....

Could you explain the non recourse beginning and end figures?

 

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K Partner's share of liabilities: Beginning Nonrecourse..... Qualified nonrecourse financing.. Recourse $ $ $ Ending $ 50,000. $ 40,000. Check this box if Item K includes liability amounts from lower tier partnerships. K Partner's share of liabilities: Beginning Nonrecourse..... Qualified nonrecourse financing.. Recourse $ $ $ Ending $ 50,000. $ 40,000. Check this box if Item K includes liability amounts from lower tier partnerships.

Answer rating: 100% (QA)

In the context of partnership taxation the terms nonrecourse qualified nonrecourse financing and recourse refer to different types of liabilities that ... View the full answer