In 2019, Wilmah Lansing invested in the 7 Triple-K Limited Partnership by paying Finland $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, 2020, if the partnership broke even (no income or loss)?

Refer to the facts in Problem 33 and assume 28 that Triple-K allocated to Wilmah net income of $10,000 from operations in 2019. What amount does Wilmah have at risk as of January 1, 2020? Would your answer be different if she also withdrew $5,000? Explain.

Refer to the facts in Problem 33 and assume instead that Triple-K allocated to her a loss 00 of $60,000 in 2019. What amount does Wilmah have at risk as of January 1, 2020? nie

Answer rating: 100% (QA)

1 Amount at risk cash basis in securities 15000 10000 25000 Non recour... View the full answer