Corduroy Frog Posted November 12, 2021 Report Posted November 12, 2021 Loans guaranteed by partners can add to the basis of partnership. A stark difference between this and S corps. Is this true of the loan is from a related party? Thanks in advance Quote
jklcpa Posted November 12, 2021 Report Posted November 12, 2021 (edited) Is the debt recourse, nonrecourse, or qualified nonrecourse? https://www.thetaxadviser.com/issues/2016/nov/basis-for-bad-boys.html Edited November 12, 2021 by jklcpa added link to article Quote
Corduroy Frog Posted November 12, 2021 Author Report Posted November 12, 2021 Thanks Judy - strictly non-recourse. Quote
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