T owns limited partnership interests in three partnerships. She is not a professional real estate developer. The Schedule K-1s received from the partnerships for last year reported the following:

	Partnership A	Partnership B	Partnership C
Share of liabilities:
Nonrecourse	$30,000	0	5,000
Qualified nonrecourse financing	0	10,000	0
Recourse	0	0	5,000
Ending capital account (tax basis)	20,000	15,000	5,000
Ordinary business income (loss)	(30,000)	5,000	0
Net rental real estate income (loss)	0	0	(20,000)
Net Section 1231 gain (loss)	0	7,000	0

Determine T’s carryforward under Code Sec. 465.

Answer rating: 100% (QA)

To determine Ts carryforward under Code Sec 465 we need to calculate the atrisk amount for each part... View the full answer