Partner D in the equal ABCD partnership guarantees 40% of the interest on $300,000 of the partnership
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Question:
Partner D in the equal ABCD partnership guarantees 40% of the interest on $300,000 of the partnership nonrecourse debt. It is reasonable to expect that D will have to pay this interest for the partnership. The present value of the interest payments that D will have to make is $30,000. How much of the debt will be allocated to D because of the guarantee?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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