Homework Help is Here – Start Your Trial Now!
Business
Accounting
At-risk amount $

At-risk amount $

Individual Income Taxes
Individual Income Taxes
43rd Edition
ISBN:9780357109731
Author:Hoffman
Publisher:Hoffman
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 12DQ
See similar textbooks
icon
Related questions
Question
Nuan invests $62,000 cash in Sideline Partnership and becomes a 30% general partner. Sideline buys and sells apartment buildings and commercial buildings. The partnership has $140,000 of recourse debt and $220,000 of qualified nonrecourse debt. What is Nuan's at-risk amount in Sideline Partnership? At-risk amount $
Transcribed Image Text:Nuan invests $62,000 cash in Sideline Partnership and becomes a 30% general partner. Sideline buys and sells apartment buildings and commercial buildings. The partnership has $140,000 of recourse debt and $220,000 of qualified nonrecourse debt. What is Nuan's at-risk amount in Sideline Partnership? At-risk amount $
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Individual Income Taxes
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
SWFT Essntl Tax Individ/Bus Entities 2020
SWFT Essntl Tax Individ/Bus Entities 2020
Accounting
ISBN:
9780357391266
Author:
Nellen
Publisher:
Cengage
SWFT Corp Partner Estates Trusts
SWFT Corp Partner Estates Trusts
Accounting
ISBN:
9780357161548
Author:
Raabe
Publisher:
Cengage
SWFT Comprehensive Volume 2019
SWFT Comprehensive Volume 2019
Accounting
ISBN:
9780357233306
Author:
Maloney
Publisher:
Cengage
CONCEPTS IN FED.TAX., 2020-W/ACCESS
CONCEPTS IN FED.TAX., 2020-W/ACCESS
Accounting
ISBN:
9780357110362
Author:
Murphy
Publisher:
CENGAGE L
Income Tax Fundamentals 2020
Income Tax Fundamentals 2020
Accounting
ISBN:
9780357391129
Author:
WHITTENBURG
Publisher:
Cengage
SEE MORE TEXTBOOKS