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#2
02-24-2005, 08:53 AM
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 Re: True or false "Stuart A. Bronstein" <spamtrap[at]lexregia.com> wrote: - quote - > xyzer[at]hotmail.com wrote:
Well lets be specific here. A partner's loan to a> > Capital tax basis (not at-risk basis) increases by exactly > > the amount you as a partner loan to your own partnership > > multiplied by your partnership ownership percentage. > False. Loans do not increase your basis. partnership will increase his at-risk amount. Depending on the nature of the interest, the partner may also be on the hook for certain partnership debts and those ARE basis. -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
02-24-2005, 08:53 AM
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| Re: True or false "Stuart A. Bronstein" <spamtrap[at]lexregia.com> wrote: - quote - > xyzer[at]hotmail.com wrote:
Loans DO increase basis in a partnership!> > Capital tax basis (not at-risk basis) increases by exactly > > the amount you as a partner loan to your own partnership > > multiplied by your partnership ownership percentage. > False. Loans do not increase your basis. I am NOT commenting on the OP because it makes no real sense to me. Gene E. Utterback, EA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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02-23-2005, 03:36 AM
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| Re: True or false xyzer[at]hotmail.com wrote: - quote - > Capital tax basis (not at-risk basis) increases by exactly
False. Loans do not increase your basis.> the amount you as a partner loan to your own partnership > multiplied by your partnership ownership percentage. Stu << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-19-2005, 06:52 PM
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| True or false Capital tax basis (not at-risk basis) increases by exactly the amount you as a partner loan to your own partnership multiplied by your partnership ownership percentage. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| false, true |
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