A partner's share of liabilities is generally based on her or his economic risk of loss in the case of recourse debt and loss-sharing ratio in the case of nonrecourse debt.
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Q7: It is possible for a business to
Q8: When noncash assets are contributed to a
Q9: A limited partner, by definition, may not
Q10: Form 1065 and Schedule K-1 are prepared
Q11: The contribution of depreciated property in a
Q13: General partnerships are owned solely by two
Q14: An individual who contributes services in exchange
Q15: A contributing partner's holding period for an
Q16: Under the "check the box" regulations, any
Q17: Partners may agree to specially allocate any
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