Charitable contribution of partnership interest

[michaelmars]

Taxpayer has negative basis. Would a charitable contribution of the interest trigger recapture income? ie basis (300,000) FMV= $500,000

[kcjenkins]

http://www.irs.gov/businesses/partnerships/article/0,,id=134696,00.html

http://www.lisc.org/docs/events/cham2005/downloads/Year_15_handout_5.pdf

http://www.pgdc.com/pgdc/story/rev-rul-75-194

Hope these links help.

[michaelmars]

That really helps, thanks KC, i have the full ria checkpoint here and really need a lesson in using it to find stuff.

thanks again-michael

[kcjenkins]

Sure, glad to help.