Padme invested $300,000 for a 30% interest in a partnership in which she is a general partner.  The partnership borrowed $200,000 from the bank. a. If the $200,000 is nonrecourse financing, calculate Padme’s at-risk amount? b. If the $200,000 is qualified nonrecourse financing, calculate Padme’s at-risk amount? c. If the $200,000 is recourse financing, calculate Padme’s at-risk amount?

SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
Chapter21: Partnerships
Section: Chapter Questions
Problem 2BCRQ
icon
Related questions
Question

Padme invested $300,000 for a 30% interest in a partnership in which she is a general partner.  The partnership borrowed $200,000 from the bank.

a. If the $200,000 is nonrecourse financing, calculate Padme’s at-risk amount?

b. If the $200,000 is qualified nonrecourse financing, calculate Padme’s at-risk amount?

c. If the $200,000 is recourse financing, calculate Padme’s at-risk amount?

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Partners and Partnerships
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
SWFT Comprehensive Vol 2020
SWFT Comprehensive Vol 2020
Accounting
ISBN:
9780357391723
Author:
Maloney
Publisher:
Cengage
Income Tax Fundamentals 2020
Income Tax Fundamentals 2020
Accounting
ISBN:
9780357391129
Author:
WHITTENBURG
Publisher:
Cengage
SWFT Essntl Tax Individ/Bus Entities 2020
SWFT Essntl Tax Individ/Bus Entities 2020
Accounting
ISBN:
9780357391266
Author:
Nellen
Publisher:
Cengage
SWFT Comprehensive Volume 2019
SWFT Comprehensive Volume 2019
Accounting
ISBN:
9780357233306
Author:
Maloney
Publisher:
Cengage
SWFT Individual Income Taxes
SWFT Individual Income Taxes
Accounting
ISBN:
9780357391365
Author:
YOUNG
Publisher:
Cengage
SWFT Corp Partner Estates Trusts
SWFT Corp Partner Estates Trusts
Accounting
ISBN:
9780357161548
Author:
Raabe
Publisher:
Cengage