Which of the following is NOT true? 

A.A partner's outside basis can be less than zero

B.Book capital and tax capital accounts can have a negative balance. 

C. Book capital accounts typically reflect the FMV of property contributed. 

D.Tax capital accounts reflect the partnership's adjusted basis of the property at the date of distribution

Answer rating: 100% (QA)

Which of the following is NOT true Answer AA partners outside ... View the full answer